India seeks Japanese investment and technology in steel sector

Union Minister for Steel Dharmendra Pradhan recently met with Japanese Ambassador HE Kenji Hiramatsu and discussed about boosting ties between two countries in the area of steel production. The minister also sought enhanced technology and investment support from Japan for the domestic steel sector.

“Had a fruitful interaction with Japanese Ambassador HE Kenji Hiramatsu,” Pradhan said in a tweet.

He discussed bolstering energy ties between the two oldest democracies in Asia and sought increasing role of Japanese technology and investments into the Indian steel sector, the minister said in another tweet.

The meeting assumes significance as steel companies in Japan have already shown interest to invest in India on manufacturing activities. Last year in November, the Ambassador of Japan had met Steel Secretary Binoy Kumar regarding setting up of joint ventures or steel plant of high grade in India.

“We discussed leveraging Japanese technology and innovation for a stable, efficient and secure energy future for both nations. We also explored opening new avenues of cooperation in the areas of conventional, non-conventional and renewable energy sources to further meet our mutual energy objectives and ensure holistic and sustainable development of our economies,” Pradhan said.

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