3rd India-Japan Steel Dialogue | 07 Feb 2025

Source: PIB 

The 3^rd 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