The Deputy Prime Minister and Minister for Economy of Luxembourg Mr. Etienne Schneider held a meeting with the Union Steel & Mines Minister Shri Narendra Singh Tomar at Udyog Bhawan in New Delhi. Both sides were also represented by senior representatives from the government and industry.
While welcoming the delegates, Shri Tomar highlighted the initiatives taken by government of India for ease of doing business in India and invited the Luxembourg industry to be a partner in the growth journey of India. He pointed specific areas like Special Purpose Vehicles for integrated steel plants, mineral exploration & mining, steel-making technology and green technologies, where they can invest. Shri Tomar shared details of expenditure proposed in infrastructure sector in the recent budget and elaborated how this would boost the Indian economy and demand for steel. He assured the visiting delegation of all possible support from government of India and urged them to share their expertise and experience in advanced technologies with Indian companies.
Mr. Etienne Schneider appreciated the visible progress made by India after the formation of new government as a result of various strategic initiatives. He explained how steel industry had played a key role in the formative years of their country and that some companies from Luxembourg are leading players the modern steel and green technology space. In last one decade, the country has diversified into sectors like financial, information-communication-technology, space, satellite and logistics, he added. Mr. Schneider sought details of India’s experience in facing the challenges of steel sector so that their country could emulate India.
Secretary Steel, Smt. Aruna Sundrarajan stated that Luxembourg is a valued and strategic partner for India. She pointed out areas of possible cooperation between the two countries including value addition, productivity enhancement and Research and Development.
The delegation expressed keen interest in progress of SAIL-Arcelor Mittal Joint Venture, offered to partner for coke-oven making technologies and highlighted how companies from Luxembourg are supporting ‘Make in India’ initiative by building facilities for equipment services and coke over battery technology.