Steel minister seeks stronger ties between Australia, India -Governance Now

Steel minister seeks stronger ties between Australia, India

Australian investors are excited to witness growth and potential of business in India, says Australian minister

GN Bureau | August 29, 2017

#India #Australia #steel #SAIL #Birender Singh

Union steel minister Chaudhary Birender Singh has invited Australian government and businesses to be a part of the ambitious growth and development opportunities available in India.

During a meeting with an Australian delegation led by Australia’s assistant minister for trade, tourism and investment, Keith Pitt, Singh said the New India provided ample scope for strengthening bilateral relations through investments, technology transfer and knowledge sharing.

Steel minister also shared details of National Steel Policy 2017 (NSP) and other initiatives being implemented by the government.

He also raised a few concerns of Indian steel industry such as wide fluctuations in prices of coking coal imported from Australia and disadvantage to Indian steel exporters due to concessional tariffs for other countries.

Steel Authority of India Limited (SAIL), which falls under the steel ministry, is the largest steel-making company in India. SAIL produces iron and steel at five integrated plants and three special steel plants.

Keith Pitt said that Australia is also keen on widening the scope of relations from natural resources to technology sharing and knowledge exchange. Australian investors are excited to witness growth and potential of business in India, he said. He said that Australia would be happy to help in sharing its expertise in extracting resources efficiently.

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