The Ministry of Economy, Trade and Industry (METI), Japan and the Indian Ministry of Steel jointly conducted the first online steel dialogue between both countries on 14 October 2022. During the dialogue, Japan emphasised on strengthening the cooperation with India for the development of its steel industry.
Government officials such as Akira Tsunedo, Deputy Director-General of METI and in charge of the Manufacturing Industries Bureau from Japan, and Ruchika Govil, Additional Secretary, Ministry of Steel, joined as participants from the respective countries.
Indian representatives welcomed investors from Japan, seeking collaboration in environmental conservation projects like resource recycling as India is the world’s second-largest steel producer after China. Furthermore, both parties discussed the problem of global steel overcapacity.
Both the countries are currently participating in the multilateral Framework Steel Global Forum (GFSEC) which is scheduled to end its current tenure at the end of this year. The two nations have also built a cooperative relationship in various fields, including a steel demand development programme using the government’s ODA budget and an energy-saving diagnosis project with the New Energy and Industrial Technology Development Organization (NEDO) as the point of contact.
Note- This article has been published under an article exchange agreement between Japan Metal Daily and SteelMint.
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