Dharmendra Pradhan seeks Japanese investment in steel sector
26 Feb 2020
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Union minister for steel and petroleum and natural gas Dharmendra Pradhan has called for focused collaborations between India and Japan to increase steel usage, especially in the backdrop of a surge of construction activity in railways and roads, gas pipelines, new agri-storage facilities and many others that are set to drive steel demand growth in India.
Addressing the inaugural session of a workshop on ‘Enabling Procedures for increase of steel usage for the growth of economy’ in New Delhi on Tuesday, the minister said that with a large market, policy reforms and abundance of raw material, India is one of the most attractive global investment destinations in steel sector.
Pradhan also stated that in the next 20 years, India is set to be the largest energy market in the world. $60 billion is being invested in creation of energy infrastructure in the country. Addition of about 16,000 kms of gas pipelines will further give boost to steel demand, he pointed out.
He said, Japanese industry, with its technological competence, is in a better position to invest in India and get into technology transfer partnerships in order to tap the opportunities arising out of growing steel demand and generate employment opportunities in the country, in a mutually beneficial way.
The workshop was organised to deliberate among key stakeholders to further increase steel usage in sectors such as construction and infrastructure for the growth of economy.
The workshop was organised by the ministry of steel in collaboration with the Confederation of Indian Industries (CII), Japan’s ministry of economy, trade and industry and the Association for Overseas Technical Cooperation and Sustainable Partnerships of Japan.
The workshop witnessed participation from policy makers, bureaucrats, steel PSUs, integrated steel producers, secondary steel producers, infrastructure developers, equipment manufacturers, user organisations and associations, academicians, secondary steel associations, steel consultants, among others.
Ambassador of Japan to India Satoshi Suzuki also participated in the workshop.
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