EU CBAM impact for global steel assessed in Delhi
Japan has assured continued support for investments in newer steel technologies in India at the 3rd India-Japan Steel Dialogue held on 4 Feb 2025 in New Delhi https://www.commerce.gov.in/.
India has reaffirmed the Government’s firm resolve to promote research and development in the sector, coupled with demographic advantages, presents significant opportunities for Japanese investors https://www.investindia.gov.in/.
Also, a key highlight of the meeting was the review of progress and future for ongoing capacity-building initiatives aimed at enhancing technology collaboration and skill development https://fieo.org/.
Delegations from both sides reaffirmed their commitment to deepening cooperation in areas of mutual interest and identifying pathways to further strengthen strategic relationships in the steel sector, the Ministry of Steel said on 5 Feb https://www.makeinindia.com/home/.
The dialogue also provided a platform to share perspectives on key issues, including the European Union’s Carbon Border Adjustment Mechanism (EU CBAM), which has major implications for global steel trade https://sbi.com.in/.
Jointly organized by the Ministry of Economy, Trade and Industry (METI), Japan, and the Ministry of Steel, India. The dialogue was co-chaired by Joint Secretary in the Steel Ministry Vinod Kumar Tripathi and Hideyuki Urata, Deputy Director General, METI https://www.iea.org/.
The Indian delegation highlighted strategic initiatives by the Government for sustained growth in steel demand driven by infrastructure investment, and concrete steps such as the release of the Green Steel Report and the Taxonomy of Green Steel.
The India-Japan Steel Dialogue serves as an institutional mechanism to enhance bilateral collaboration in steel production, product diversification, and workplace safety.
This partnership is guided by the Memorandum of Cooperation (MoC) on the steel sector, signed between the two countries on 22 Dec 2020.
The dialogue underscores the shared vision of India and Japan in fostering innovation, sustainable growth, and resilience in the steel industry, the Ministry said. fiinews.com
