Minister of Heavy Industries and Public Enterprises of India, H. D. Kumaraswamy leads India-UAE steel dialogue at Dubai symposium, outlining trade expansion, supply chain reform, and industrial cooperation.
Dubai: In a pivotal move to advance industrial cooperation, the Sectorial Symposium: Steel & Alloy Industry was hosted by IBPC Dubai in collaboration with the Consulate General of India, gathering key stakeholders from both nations at Taj Dubai. The event was headlined by Shri H. D. Kumaraswamy, India’s Union Minister for Steel and Heavy Industries, and H.E. Satish Sivan, Consul General of India to Dubai.
The symposium focused on expanding trade, reforming supply chains, and enhancing infrastructure integration between India and the UAE. With India aiming to double its steel trade from 150 to 300 million tonnes, Minister Kumaraswamy stressed the industry’s critical role in achieving a $5 trillion economy, backed by an ₹11.1 lakh crore infrastructure budget.
“Steel is the spine of a modern economy,” said Kumaraswamy, adding that partnerships with the UAE are essential to India’s export ambitions. He emphasised the need for better export incentives, digitised customs, and streamlined logistics to boost cross-border efficiency.
The UAE, which imported over 10 million tonnes of steel in 2024, represents a high-growth market driven by smart city developments, energy infrastructure, and real estate. Consul General Satish Sivan highlighted initiatives like the Virtual Trade Corridor connecting JNPT and Jebel Ali ports, aimed at creating seamless trade pathways. DP World is actively supporting this transformation through smart logistics platforms.
Industry representatives, including Tata Steel, cited challenges such as payment rigidity, long lead times, and uncompetitive incentives, despite high alignment between Indian product portfolios and Gulf region demands. With 90% of Tata Steel’s portfolio in long products, the company sees strong potential if incentives and contractual mechanisms improve.
An interactive Q&A saw participants advocate for a dedicated procurement platform, flexible payment terms, and risk mitigation tools to support UAE-based sourcing from Indian manufacturers.
IBPC Dubai will publish a whitepaper consolidating key recommendations. “Steel is more than a product—it’s the enabler of economies,” said Dr. Sahitya Chaturvedi, Secretary General of IBPC Dubai.
As India and the UAE deepen their industrial alliance, this initiative marks a significant step towards a resilient and strategically aligned steel trade ecosystem.
