India-Russia Meeting Focuses on Deepening Cooperation In Steel Sector

New Delhi, Apr 17 (KNN) An India-Russia Round Table was held this week in New Delhi to deepen bilateral cooperation in the steel sector.

The meeting was co-chaired by the Secretary, Ministry of Steel, Government of India, and Mikhail Iurin, Deputy Minister of Industry and Trade of the Russian Federation. The Russian delegation, comprising representatives from industry and related sectors, participated alongside Indian counterparts.

The discussions provided a platform for engagement on key areas of mutual interest, including raw material sourcing, technological collaboration, equipment manufacturing and research opportunities in the steel sector.

Both sides reviewed the current status of bilateral engagement and explored avenues to further strengthen cooperation across steel and allied industries. The interaction also facilitated a better understanding of respective priorities and potential areas for collaboration.

The meeting underscored the importance of sustained dialogue and cooperation, with both sides expressing their intent to continue engagement and deepen ties in the steel sector.

Russia has been a long-standing partner of India and bilateral trade between the two countries have been growing. In the financial year 2024-25, bilateral trade between the two countries stood at US$68.7 billion. 

India's exports to Russia include pharmaceuticals, chemicals, iron & steel, and marine products. Key items imported from Russia are crude oil and petroleum products, sunflower oil, fertilizers, coking coal, and precious stones/metals. 

(KNN Bureau)