(PTI)
Union Steel Minister Dharmendra Pradhan on Friday met officials of Japanese steel companies Nippon Steel and Daido Steel in Tokyo and invited them to invest in India. Pradhan, along with senior officials of the ministry, is in Japan to attend the two-day Global Forum on Steel Excess Capacity (GFSEC). His meeting assumes significance as steel companies in Japan have shown interest in investing in India.
“Met with representatives of Daido Steel Co.Ltd in Tokyo. Daido is one of the world’s largest speciality steel manufacturers also dealing in high-performance materials, magnetic materials, parts for the automobile industry and industrial equipment,” Pradhan said in a tweet.
While Daido Steel has a good presence in India through its joint ventures and various subsidiaries, Pradhan said he discussed with the company’s officials ways to further strengthen cooperation through technology transfer and sharing of best practices to make the local steel industry more cost-effective. Pradhan also met officials of Nippon Steel Corporation and apprised them about India’s large market with a growing economy and steel consumption.
