Steel Min invites UK, Luxembourg cos to invest in India

Singh asked Lux govt and businesses to explore opportunities in India.

The Dollar Business Bureau 

Union Minister of Steel, Chaudhary Birender Singh, has extended invitation to firms from the UK and Luxembourg to do investment in India

“The Minister, who was on a three-day visit to the UK and Luxembourg, has invited firms and businessmen from these two countries to do investment in India and become a partner in the country’s growth story,” Ministry of Steel said in a statement on Thursday.

Singh had returned to India on Wednesday. He was accompanied by senior officials from Steel Ministry and state-owned steel major SAIL, the statement added. 

He also met Etienne Schneider, Deputy Prime Minister of Luxembourg and had discussion on several areas of mutual interest. 

Singh highlighted the importance of Luxembourg from the point of view of steel industry and showed gratitude to Deputy Prime Minister of Luxembourg for his keen interest in strengthening business ties with India, it said.

He asked the Luxembourg government and businesses to discover opportunities for increasing their business presence in the country and gave assurance of full support of the government of India. 

Singh also took a visit to the offices of engineering major Paul Wurth and the world’s largest maker of steel, Arcelor Mittal and had a meeting with their representatives from top management. 

He shared the details about the measures being taken by the Indian government to enhance ease of doing business and enable foreign investment. 

“Singh shared his vision for India’s steel industry and termed research & development (R&D) as the major driver for industry’s sustainable growth,” the statement said.

He said that producers of steel need to come forward and exhibit benefits of using steel by implementing innovative pilot projects, it added.

The Dollar Business Bureau - Sep 02, 2016 12:00 IST