India & Brazil plan joint efforts in steel & mining
12 Feb 2013 6:58 AM IST
India and Brazil have decided to increase cooperation and encourage investment opportunities in the steel and mining sectors.
The decision was taken during a visit of Steel Minister Beni Prasad Verma-led Indian delegation to Brazil last week, in which a letter of intent (LoI) was signed to strengthen cooperation between the two nations in steel and mining sectors, an official statement said.
The LoI was signed by Steel Secretary D R S Chaudhary and Brazil's Executive Secretary (Mines and Energy), it added.
The letter of intent aims to focus on strengthening the supply chain and facilitating exchange of technical know-how for the growth of the steel industry, including pelletisation plants, in both the countries, besides promoting and expanding bilateral relations, it said.
The Steel Minister-led delegations also explored the possibility of signing a memorandum of understanding during the forthcoming visit of the Brazil President's to India as the two countries have been showing robust growth in the consumption of steel, the statement said.
The two countries have emerged as large markets after China in terms of their growth potential among the developing countries.
The decision was taken during a visit of Steel Minister Beni Prasad Verma-led Indian delegation to Brazil last week, in which a letter of intent (LoI) was signed to strengthen cooperation between the two nations in steel and mining sectors, an official statement said.
The LoI was signed by Steel Secretary D R S Chaudhary and Brazil's Executive Secretary (Mines and Energy), it added.
The letter of intent aims to focus on strengthening the supply chain and facilitating exchange of technical know-how for the growth of the steel industry, including pelletisation plants, in both the countries, besides promoting and expanding bilateral relations, it said.
The Steel Minister-led delegations also explored the possibility of signing a memorandum of understanding during the forthcoming visit of the Brazil President's to India as the two countries have been showing robust growth in the consumption of steel, the statement said.
The two countries have emerged as large markets after China in terms of their growth potential among the developing countries.
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