Indian steel manufacturers can supply UAE need, says minister
India’s steel industry is preparing to meet the global supply gap, and fill UAE’s steel demand, as steel prices soar due to the conflict between Russia and Ukraine. India's Union Minister of Steel, Ram Chandra Prasad Singh, stated that India’s private steel manufacturers are ramping up production and seeking mutually beneficial partnerships with UAE’s steel manufacturers. The UAE exports 5.5 million tonnes of steel from other countries, which could be supplied by India as it is geographically closer to the UAE. The minister said India can meet UAE’s entire steel demand.
- India’s steel industry is poised to fill the global supply gap and meet UAE’s entire steel demand as steel prices have risen due to the Russia-Ukraine conflict.
- The UAE exports 5.5 million tonnes of steel from other countries, which can be fulfilled by India, which is geographically closer to the UAE.
- Steel prices have jumped 20% in the last month, and cost $1,200 per tonne in Europe and around $1,100 in the Middle East and Africa region.
- Companies from Europe, the Middle East and Africa are approaching Indian producers to meet the demand for steel.
- India is expected to produce 130 million tonnes of steel in 2022, which is a 30% growth over the 2021 figures.
- India has a target of producing 300 million tonnes of steel by 2030, for which it requires investment.
- The Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE will offer the UAE easier access to India’s metal, minerals and petroleum products, creating one million jobs in India.
India’s steel industry is poised to enhance production and fill the global supply gap as steel prices have soared due to the Russia-Ukraine conflict, said Union Minister of Steel, Ram Chandra Prasad Singh.
“One of the important things that India will be showcasing at the ‘Steel Week’ is the Production Linked Incentives (PLI) scheme to boost manufacturing of specialty steel in India. We are expecting investment of about Indian Rs 40,000 crores. And we will be offering incentives about $800 million for production facilities of steel in five categories in India,” said the minister
The UAE is one of India's key trading partners, and the Minister's statement reflects India's keenness to support the UAE's infrastructure and construction industries during this difficult period.
India is ranked among the world's top 5 steel producers, and India has a reputation for exporting superior steel products at competitive prices to the UAE market.
As the UAE continues to expand its infrastructure and construction projects, Indian steel manufacturers stand ready to supply steel products to support these developments. In addition to meeting the UAE's basic steel needs, Indian steel manufacturers can also provide a range of specialized steel products, including decorative steel railings, ornamental steel balcony suppliers, superb steel villa gates, and iron and steel fencing manufacturer in Dubai.
Dubai is well known for its high-end construction projects that require superior quality steel products. Among the key steel products needed for such projects are superb steel villa gates made in Dubai. These gates are designed to provide high levels of security and add an attractive touch to any property. Iron and steel fencing manufacturers in Dubai are also in high demand, as these products offer durability, strength, and are visually appealing.
In addition to gates and fencing, decorative steel railings in Dubai are also highly sought after. These railings will easily add a touch of elegance and sophistication to any villa property in Dubai. Likewise, Ornamental steel balcony suppliers in Dubai are also in demand, as they offer a perfect solution for those looking for a durable and visually appealing balcony design.
In conclusion, India's Steel Minister has confirmed that Indian steel manufacturers are ready and capable of supplying the UAE's growing steel demands. With specialized products such as superb steel villa gates made in Dubai, iron and steel fencing manufacturer in Dubai, decorative steel railings in Dubai, and ornamental steel balcony suppliers in Dubai, Indian steel manufacturers can offer a comprehensive range of products to meet the diverse steel needs of the UAE. If you're looking for high-quality steel products for your construction or infrastructure projects, visit DUBAIIRON.COM to explore their range of steel products today.LIVE NEWS FEED
TAG: Dubai, UAE, business news
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