Cabinet approves pact between India & Japan for strengthening cooperation in steel sector

Union Cabinet chaired by Prime Minister has given its approval for signing the memorandum of cooperation between Government of India and Government of Japan to constitute the 'India-Japan Steel Dialogue' to strengthen cooperation in the steel sector.

New Delhi:The Union Cabinet on Wednesday approved the signing of a pact between India and Japan to constitute the 'India-Japan Steel Dialogue' for strengthening cooperation in the steel sector, according to an official statement.

The memorandum of cooperation (MoC) will help in capacity building for high-grade steel manufacturing in India.

"The Cabinet approves a pact between India and Japan in the steel sector. The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval for signing the memorandum of cooperation between Government of India and Government of Japan to constitute the 'India-Japan Steel Dialogue' to strengthen cooperation in the steel sector," the statement said.

The 'India-Japan Steel Dialogue' envisages enhancement of mutual understanding to secure sustainable growth in the steel sector, it said.

The dialogue aims to examine all aspects of cooperation in the steel sector, including the promotion of investment in high-grade steel making and finding new avenues of steel usage in India, it said.