India, Russia review bilateral engagement, explore deeper cooperation in steel sector
New Delhi, April 16
India and Russia on Thursday reviewed their ongoing engagement in the steel sector and discussed ways to deepen bilateral cooperation during a high-level round table held at the Ministry of Steel in the national capital.
The India-Russia Round Table was co-chaired by the Secretary, Ministry of Steel and Mikhail Iurin, Deputy Minister of Industry and Trade of the Russian Federation.
The meeting brought together representatives from industry and allied sectors from both countries, providing a platform for constructive dialogue on areas of mutual interest.
During the discussions, both sides deliberated on a wide range of issues concerning the steel sector, including raw material sourcing, technological collaboration, equipment manufacturing, and research opportunities.
The meeting also served as an opportunity to assess the current status of bilateral engagement and identify avenues for further strengthening ties.
"During the meeting, both sides discussed various aspects of bilateral cooperation and reviewed the existing engagement between the two countries," Ministry of Steel said.
"Discussions were held on broad areas concerning the steel sector and related industries, with a view to further strengthening cooperation," it added.
The ministry highlighted the importance of expanding cooperation across the steel value chain, while also focusing on innovation and capacity building.
The interaction enabled participants to better understand each other's perspectives and align their approaches to future collaboration.
"The interaction also enabled both sides to gain a better understanding of each other's perspectives and explore possibilities for continued engagement in the sector," the ministry added.
The discussions were held in a cordial and constructive atmosphere, reflecting the longstanding partnership between India and Russia.
Both sides underscored the need for sustained dialogue and expressed their commitment to enhancing cooperation in the steel sector and related industries.
The meeting concluded with a shared intent to continue engagement and explore new opportunities that could further strengthen bilateral ties in the coming years.
— IANS
Reader Comments
Good to see focus on technology and R&D, not just trade. Our steel plants need modernisation. Hope this leads to more joint ventures and skill development for our engineers.
While cooperation is good, we must ensure this doesn't make us overly dependent on one country for critical inputs. Diversification is key for long-term security. The talks seem positive though.
Interesting development. The global steel market is very competitive. If this helps Indian manufacturers get better tech and cost-effective raw materials, it could boost 'Make in India' significantly.
Russia has been a reliable partner for decades. Deepening ties in core sectors like steel is logical. Hope the focus on the "entire value chain" means more jobs and manufacturing units here in India.
The article mentions "equipment manufacturing". This is crucial. We should aim to not just import machinery but co-develop and produce it here. That's real capacity building.
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