Rapid Fire
3rd India-Japan Steel Dialogue
- 07 Feb 2025
- 1 min read
The 3rd India-Japan Steel Dialogue, held in New Delhi, brought both nations to discuss economic developments, steel trade, and technological collaboration.
- Institutional Mechanism: The dialogue is part of the Memorandum of Cooperation (MoC) on the steel sector, signed between the two countries in 2020, to promote sustainable growth, innovation, and workplace safety.
- Outcomes: India assured ease of doing business for Japanese companies, while Japan reaffirmed its support for investments in new steel technologies.
- Both sides shared perspectives on the European Union’s Carbon Border Adjustment Mechanism (EU CBAM) and its impact on steel trade.
- EU CBAM: It is the EU's mechanism to price carbon emissions on imported goods and promote cleaner industrial production globally.
- CBAM's transitional phase (2023-2025) involves reporting obligations, with full financial implementation from 2026, covering iron, steel, cement, fertilizers, aluminum, electricity, and hydrogen.
Read more: Green Steel Policy
