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India, Nepal Review New Developments in Ties

There were also perceptions that Oli was leaning more towards China than India

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Sushma Swaraj, External affairs minister of India. Wikimedia

Recent developments in India-Nepal ties across various sectors came up for discussion during a meeting between External Affairs Minister Sushma Swaraj and Nepalese Foreign Minister Pradeep Kumar Gyawali on Thursday.

“The two ministers reviewed recent developments in bilateral ties across diverse sectors, including progress achieved on the three transformative initiatives launched in 2018 in the areas of agriculture, railways and inland waterways as well as pace of implementation of ongoing bilateral development and connectivity projects,”the External Affairs Ministry said in a statement.

“They expressed satisfaction at the significant progress made in different sectors of cooperation as a result of intensified bilateral exchanges at all levels in recent months,” it said.

According to the statement, the two leaders reiterated their commitment to maintain the new momentum and to further strengthen the traditionally close and friendly ties between the two countries.

India Pak relations
India, Nepal review new developments in ties.

India reset its ties with Nepal last year through a visit by Prime Minister Modi, his first after K.P. Sharma Oli became the Prime Minister.

During the visit, both sides agreed to boost trade and economic links, connectivity via air, land and water, people-to-people ties, with Modi declaring that India will work like a sherpa in the Himalayan nation’s development endeavours.

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This happened after there was a chill in India-Nepal ties during Oli’s earlier stint between October 2015 and August 2016 when a border blockade blamed on New Delhi crippled Nepal’s economy.

There were also perceptions that Oli was leaning more towards China than India. (IANS)

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India To Become Global Steel Manufacturing Hub By 2031

The Modi government seems determined to boost the country's crude steel production capacity to 300 MT by 2030-31 in a bid to make India a global steel manufacturing hub

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steel, manufacturing, india, global
Modi government seems determined to boost the country's crude steel production capacity. Wikimedia Commons

The Modi government seems determined to boost the country’s crude steel production capacity to 300 MT by 2030-31 in a bid to make India a global steel manufacturing hub.

At present, China is the world’s largest steel producer with a production capacity of 928.3 MT of crude steel (2018), while India, with 106.5 MT of crude steel production, ranks second on the list. Dedicated participation of all stakeholders is a must to achieve the projected capacity target of 300 MT by 2030-31.

To deliberate on major issues plaguing the sector, the Ministry of Steel is organising in Delhi on Monday a day-long conclave, during which Steel Minister Dharmendra Pradhan will seek suggestions from the stakeholders to address its challenges, identify opportunities and arrive at tangible interventions that can aid the growth of the Indian steel industry.

The National Steel Policy 2017 envisages ‘creating a self-sufficient steel industry that is technologically advanced, globally competitive and promotes inclusive growth’.

Being the third largest steel consumer in the world after China and USA, India’s per capita steel consumption at 74 kgs is one-third the global average of 225 kgs.

steel, manufacturing, india, global
Being the third largest steel consumer in the world after China and USA, India’s per capita steel consumption at 74 kgs is one-third the global average of 225 kgs. Wikimedia Commons

Various countries have focused on rapidly increasing their steel consumption in the high growth phase of their economy. At present, India’s majority steel demand comes from construction, infrastructure, automobiles and capital goods, among others.

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Steel intensive construction offers an increased pace of durable and environmentally sustainable construction. Its recyclable nature also contributes to the circular economy.

The government has set a target to make India a $5 trillion economy by 2024-25, therefore promoting domestic steel industry is essential, given its high GDP multiplier and critical role in the construction and infrastructure sectors, said the Ministry. (IANS)