Union Minister of Steel, Jyotiraditya Scindia, and the Minister of Economy, Trade and Industry of Japan, Nishimura Yasutoshi, recently convened a bilateral meeting in New Delhi to address crucial issues concerning the steel sector and the urgent need for decarbonization. The meeting highlighted the significance of mutual cooperation in achieving economic growth and transitioning towards low carbon emissions in the steel industry.
The two sides emphasized the importance of adopting a policy approach that considers the unique circumstances of each country’s steel industry, with an unwavering commitment to fostering both economic prosperity and a sustainable low-carbon future. India and Japan, as the world’s second and third-largest steel producers, recognized their roles as co-benefit partners in the global steel industry and acknowledged the potential benefits of joint initiatives.
During the meeting, the recent surge in investment activities by Japanese steel producers in India was noted, underscoring the growing collaboration between the two nations. In light of this, both sides agreed to bolster cooperation between their public and private sectors to facilitate the balanced development of the global steel industry.
Furthermore, both India and Japan affirmed their commitment to achieving their respective net-zero goals, acknowledging the diverse pathways to decarbonization in the steel sector. As a testament to their dedication, it was jointly decided to hold further discussions through the Steel Dialogue and other cooperation programs. These talks, slated for November 2023, will prioritize exploring innovative technologies that enhance energy efficiency and promote the decarbonization of steel production. The participation of both public and private entities will ensure a holistic approach to tackling these critical challenges.
The bilateral meeting served as a significant step towards fostering an enduring partnership between India and Japan in their collective pursuit of sustainable and environmentally responsible steel production. By sharing expertise, knowledge, and technological advancements, both nations aim to lead the global steel industry toward a greener and more economically robust future.
The talks between the Union Minister of Steel and the Minister of Economy, Trade, and Industry of Japan signify a shared commitment to address the pressing issues of the steel sector’s environmental impact. This collaboration not only cements the strong ties between the two countries but also serves as a model for international cooperation in confronting the global challenge of climate change.
