ArcelorMittal is considering a potential shift of some of its European business support activities to India, as the region’s steel sector faces pressure from high costs and rising imports, the world's second-largest steelmaker said on Tuesday.

The Luxembourg-based steelmaker said that it discussed the proposal at a meeting with its European works council, a body representing employees, as part of its efforts to address major issues that the company said threaten the future of steelmaking on the continent.

ArcelorMittal said it is considering the possibility of moving some business support activities to India from Europe to cut costs.