Union Steel Minister Sh. Jyotiraditya M. Scindia and the Minister of Economy, Trade and Industry of Japan Mr. NISHIMURA Yasutoshi held bilateral meeting in New Delhi today to discuss steel sector cooperation and decarbonization issues.
Both sides stressed the importance of pursuing a political approach which takes into account the circumstances of each country’s industryunderpinned by the fundamental principle of pursuing both economic growth and low-carbon transition in the steel sector. They also shared the view that India and Japan are the world’s second largest and third largest steel producers and co-benefit partners in the global steel industry.
Recognizing the recent expansion of investment activities in India by Japanese steelmakers, both sides agreed to support cooperation between the public and private sectors of the two countries which will lead to the proper development of the global steel industry.
Both sides also affirmed the importance of cooperation in achieving their respective net zero goals, recognizing the heterogeneity of steel decarbonisation pathways. In order to continue this cooperation, it was jointly decided to hold further discussions through the Steel Dialogue and other cooperation programmeswith due attention to innovative technologies to increase energy efficiency and decarbonisation of steel production in November 2023 with the participation of the public and private sector.
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