Japan has expressed keen interest to invest Yen five trillion, or around Rs 2.95 trillion, in India across various sectors, which includes steel, exploring new technologies and decarbonization pathways.
India and Japan have also signed a memorandum of cooperation (MoC) in semiconductors during a meeting of Indian government officials with a Japanese delegation led by the Minister of economy, trade and industry of Japan, Nishimura Yasutoshi.
Envisioning a partnership which can leverage complementary strengths of each country, the areas of manufacturing, talent development, research and development (R&D) would get a major boost. To this end, both countries will soon create an implementation organization to facilitate industry and government-level collaboration.
While addressing best practices, green steel production and greater energy efficiency in operations, both sides will take these up in future discussions through the Steel Dialogue and other cooperation programs, to help achieve their respective net zero goals, India’s steel sector aims to grow to 300 million tonne capacity by 2030.
