Union Minister for Petroleum, Natural Gas and Steel, Dharmendra Pradhan spoke at the Ministerial Meeting of Global Forum on Steel Excess Capacity. The meeting is being held in Tokyo.
Talking about India's demand for steel being a driver for the country's capacity expansion, the Union Minister also posted a picture with his other counterparts at the meeting on his official Twitter handle.
India’s demand for steel shall be a driver of its capacity expansion.— Dharmendra Pradhan (@dpradhanbjp) October 26, 2019
Our steel sector is deregulated and is driven by market forces. We do not contribute or suffer from excess capacity and are mindful and conscious of the problems, which originate from it. #GFSEC2019 pic.twitter.com/x0kjwxpFI3
Taking to Twitter, Dharmendra Pradhan also wrote about India's 5-year plan on spending on infrastructural development of the country.
Pursuing more than a billion dreams, India is committed to spend about US $1.4 trillion on infrastructure development in the next 5 years.#GFSEC2019— Dharmendra Pradhan (@dpradhanbjp) October 26, 2019
He also spoke on India's determination to raise the per capita consumption of steel.
We are also determined to raise the per capita consumption of steel from our current low of 72 kg per capita to 158 kg per capita by 2030 according to our policy of 2017.— Dharmendra Pradhan (@dpradhanbjp) October 26, 2019
The Ministry of steel released a statement on Friday which said, Dharmendra Pradhan had participated in discussions with top steel producers from Japan.
"The Minister highlighted the investor-friendly steps taken by India recently, like reduction in corporate tax, bettering Rank in Ease of doing business, tax incentives for new companies and new investment. He called upon the Japanese Steel industry to be part of the growing Indian story," the statement released by the ministry had said.
Union Minister of Petroleum and Natural Gas and BJP leader Dharmendra Pradhan is on a four-day visit to Japan and Russia. The visit will start on October 22 and will conclude on October 26. A statement by the Ministry of External Affairs (MEA) said that Union Minister’s visit comes as a follow up to the visit of Prime Minister Narendra Modi to Vladivostok, Russia for the Eastern Economic Forum last month.
(With inputs from ANI)