10-07-2025
Minister H. D. Kumaraswamy champions India-UAE steel collaboration at Dubai symposium
Dubai, United Arab Emirates: A landmark event in the journey of Indo-UAE industrial cooperation unfolded today as the Sectorial Symposium: Steel & Alloy Industry was successfully hosted by the Indian Business and Professional Council (IBPC Dubai) in collaboration with the Consulate General of India, at the opulent Opera Ballroom of Taj Dubai.
This exclusive platform brought together business leaders, policymakers, and industry veterans from India and the UAE to discuss strategic cooperation, market expansion, and infrastructural alignment in the steel and alloy sector.
The symposium was graced by Shri H. D. Kumaraswamy, Hon'ble Union Minister for Steel and Heavy Industries, Government of India, as the Chief Guest, and H.E. Satish Sivan, Consul General of India to Dubai, as the Guest of Honour. Chairman of IBPC Siddharth Balachandran was also in attendance and hosted the high profile delegation that also included public sector representation from MECON Limited, SAIL (Steel Authority of India), both PSU's having recently opened branches in the UAE, with the ministry endorsing the open conversation between all parties.
India, already the second-largest producer of steel globally, is on track to expand its steel trade volume from 150 million tonnes to 300 million tonnes, backed by robust domestic infrastructure development and export ambitions.
"India's commitment to become a $5 trillion economy is firmly supported by a ₹11.1 lakh crore infrastructure budget, which not only strengthens domestic consumption but also positions us as a trusted global supplier," said Shri H. D. Kumaraswamy, while addressing the gathering. "Collaborating with strategic partners like the UAE is central to our global growth blueprint. Steel is not just an industry, it's the spine of a modern economy."
The Minister emphasized the need to improve export incentives and streamline supply chain processes to unlock India's full export potential to the Gulf.
The UAE, as the largest steel importer in the GCC with over 10 million tonnes in 2024, presents a dynamic market for Indian producers. With massive demand driven by smart city projects, energy infrastructure, and real estate, the region offers mutual growth opportunities.
"Steel trade is not merely transactional, it is transformational," stated H.E. Satish Sivan, Consul General of India. "With initiatives like the Virtual Trade Corridor, which integrates JNPT (India) and Jebel Ali (UAE), and seamless customs processes, we are actively reengineering the logistics ecosystem for faster and more transparent trade."
He noted that DP World is playing a pivotal role in enabling this vision through digitized, integrated platforms and smarter logistics pathways.
Industry leaders from Tata Steel and other major players highlighted current challenges in cross-border trade, including long lead times, payment flexibility, and export incentive gaps.
"Nearly 90% of Tata Steel's portfolio is in long products, aligning well with construction-heavy projects in the Gulf. Yet, without proper export incentives, Indian companies find limited commercial sense in prioritizing exports," observed a Tata Steel spokesperson.
The open Q&A session saw members advocating for a dedicated procurement and contract platform to reduce risk, improve payment terms, and ensure operational agility for UAE-based buyers sourcing from India.
India is targeting a two-fold increase in steel trade, with the GCC region, particularly the UAE, emerging as a strategic hub. The UAE's infrastructure boom offers a key opportunity for Indian exporters to scale operations and tap into high-growth markets.
The upcoming Virtual Trade Corridor promises faster, more transparent customs processes, while the industry continues to call for improved export incentives, streamlined logistics, and a centralized digital trading platform.
IBPC Dubai is preparing a whitepaper outlining crucial regulatory and commercial recommendations to bolster this momentum.
Dr. Sahitya Chaturvedi, Secretary General of IBPC Dubai, stated, 'Steel is not just a product, it's the backbone of modern economies. Our mission is to transform trade friction into flow, and intent into industrial impact.'
As bilateral ties deepen, initiatives like this reflect the shared ambition of India and the UAE to shape a resilient and future-forward industrial alliance.
