Japan Keen To Make Investments Worth 5 Trillion Yen In India

Japan is keen to make investments of around 5 trillion Japanese yen in India across various sectors including steel, Union Minister Jyotiraditya Scindia said today.

The steel minister made the remarks after a meeting with a Japanese delegation led by NISHIMURA Yasutoshi, Minister of Economy, Trade and Industry of Japan, in the national capital.

“We had a very detailed discussion…about the common strategies that we can develop in terms of the path forward, exchange of best practices, exchange of new technologies, Japanese investment in India which would be close to 5 trillion yen…over the next few years not only in the steel sector but other sectors as well,” Mr. Scindia told PTI in reply to a question on the discussions held in the meeting.

The meeting was very positive. It will provide many areas and platforms where India and Japan will work closely together with regard to the steel sector, he said, adding the delegation discussed tremendous growth prospects in India in the steel sector which is to grow to 300 million tonnes (MT) capacity by 2030 from 160 MT at present.

Discussions were also held on the recent developments in the steel industry, the current global situation and its challenges, the minister added.