Indian Steel sector ready to showcase investment opportunities at EXPO2020 Dubai

Indian Steel sector ready to showcase investment opportunities at EXPO2020 Dubai

Minister inaugurated the “Steel Week” in the presence of senior officials from Indian steel industry

DUBAI, March 11, 2022: Shri Ram Chandra Prasad Singh, Minister of Steel, Government of India inaugurated the ‘Steel Week’ at India Pavilion today. The Steel Week will showcase India’s potential in the sector and invite investors from the UAE. Senior officials from major Indian steel producers including Steel Authority of India Ltd, JSW Steel, Tata Steel, Jindal Steel & Power Ltd and AM/NS India were present.

Talking about the steel sector in India, Shri Ram Chandra Prasad Singh, Minister of Steel, said, “Taking forward the vision of our Hon’ble Prime Minister, the Government of India is committed to facilitate accelerated growth in the steel sector, with Make-in-India fructifying into Make-in-Steel alongside Building the New India with Steel as material of choice.”

He also highlighted that the recently launched Production Linked Incentive Scheme for the specialty steel sector will be a cornerstone in propelling the Indian steel sector towards target of 300 mtpa production capacity by 2030, with special emphasis on value-added steel. It is going to be a major step in the direction of Steel Vision 2047.

Speaking during the occasion, Shri. V. R. Sharma, Co-Chair, FICCI Steel Committee said, “We are delighted to be a part of the EXPO. India’s trade relations with the UAE have a strong history and with the CEPA (Comprehensive Economic Partnership Agreement), the relations are going to strengthen further. The Indian steel exports have enabled the GCC countries to bridge the deficit gap. Similarly, the UAE offers a wide potential for exporting steel components to India. Our delegation will be hosting sessions and meetings to showcase the potential of the Steel industry and to deepen the trade relations with the UAE.”

The delegation held meetings with steel companies from the UAE including Dana Steel, Sharaf Group and DP World. The delegation hosted an interactive session with the local construction companies, users, and importers of steel in UAE to understand the possibilities of collaboration to increase steel trade between both the countries and draw from the advantages afforded by India-UAE CEPA.

The Steel Week at India Pavilion, EXPO2020 Dubai will conclude on 17th March 2022.

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