Union Minister Pradhan lauds Japanese steel industry, invites more investment in India

Union Steel Minister Dharmendra Pradhan on Monday highlighted need for collaborations between India and Japan for an increase in us of steel. 

Underlining Prime Minister Narendra Modi's vision of 5 trillion US dollar ecomy, he said that various policy reforms and initiatives such as Pradhan Mantri Awas Yojana, Har Ghar Jal Yojana, speedy construction of roads and railways, creating gas-based ecomy, new agri-stor facilities and many ors will drive an increase in demand for steel.

Dharmendra Pradhan said a large market, increasing policy reforms and abundant raw material make India one of most attractive global investment destinations in steel sector.

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Competent Japanese market

Union Minister praised techlogical competence of Japan and invited ir industry to invest in India, thus getting into techlogy transfer partnerships. move will allow Japan to avail opportunities coming out of growing steel demand and generate employment opportunities in country.

Speaking at workshop on 'Enabling Procedures for an increase in steel us for growth of Ecomy,' Dharmendra Pradhan stated that in next 20 years, India is set to become largest energy market in world.

"USD 60 billion is being invested in creation of energy infrastructure in country. Addition of about 16,000-km of gas pipelines will furr give a boost to steel demand," he said.

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Steel - backbone of Industrial development

Minister of State for Steel Faggan Singh Kulaste said that steel is crucial to develop a modern ecomy and is considered to be backbone of industrial development. He underlined us of steel in developing disaster resilient structures.

workshop witnessed participation from policy-makers, bureaucrats, steel PSUs, integrated steel producers, secondary steel producers, infrastructure developers, equipment manufacturers, user organisations and associations, academicians, secondary steel associations, steel consultants, among ors.

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(With inputs from ANI)