Minister encourages UAE companies to invest in Indian steel sector
Steel Minister Ram Chandra Prasad Singh has urged companies to take advantage of the UAE-India CEPA agreement and find ways to set foot in the MENA region using the UAE as a base.
He assured the Indian Government’s full support to the companies, and added that steel, as a base for much of infrastructure projects, will be crucial to fulfilling the Gatishakti Master Plan and other key projects.
The Minister made these calls on 12 Mar 2022 at an interactive session on ‘Steel Usage in UAE & Collaboration Opportunities for Indian Steel Sector’ which was held between key Indian steel companies and steel user companies of the UAE.
Flagship schemes such as Production-Linked Incentive (PLI) for specialty steel were explained at the exhibition, Expo2020 Dubai, encouraging companies from the Emirates to invest in the Indian steel sector.
As part of the Steel Week, one-to-one meetings were held with leading players in steel production and logistics industries based in the UAE.
Indian steel majors including SAIL, JSW Steel, AM/NS, Tata Steel and JSPL also presented their views on steel manufacturing, product portfolio, production capacities, sector coverage, and key areas of expertise at EXPO2020 Dubai’s Indian Pavilion which hosted the ‘Steel Week’, showcasing the Indian steel sector and explore ways to boost trade relations with the UAE as well as build a portfolio of opportunities for India’s steel sector. fiinews.com
