By James Mathew
Pradhan will also be participating at the ministerial session of Abu Dhabi International Petroleum Exhibition & Conference on Monday
India’s minister for petroleum & natural gas and steel (MoPNG&S), Dharmendra Pradhan, currently on a 2-day visit to UAE, is expected to hold negotiations with representatives of government and private sector agencies in the Gulf region to explore opportunities for steel exports from India to the Middle East countries.
India is looking to boost its exports of various iron and steel products to the UAE and Saudi Arabia, in particular, in anticipation of an uptick in the the construction sector.
Currently, UAE is among the top 10 countries in terms of India’s steel exports, accounting for about 5 percent of the county’s total steel exports.
Industry analysts said both UAE and Saudi Arabia currently being in the midst of implementing several large-scale projects,
The Pradhan-led Indian delegation to UAE will use the visit to hold negotiations with private trade representatives as also government agencies to tap export opportunities for steel from India.
Construction activities related to the World Expo 2020 at Dubai will be among the major opportunities for Indian private sector steel companies for their long and flat steel products, according to officials associated with Indian Steel Alliance (ISA), an industry body.
“Middle East and Southeast Asian countries are among the major markets India is focusing to push steel exports. While the steel minister can take the lead in holding talks for export opportunities, it will be mainly a private initiative,” Arnab Kumar Hazra, Assistant Secretary General, ISA, told Arabian Business.
Pradhan, who will be participating at the ministerial session of Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) on Monday, is also scheduled to meet his UAE counterparts Suhail Mohamed Faraj Al Mazrouei, Minister of Energy and Industry, and Dr. Sultan Ahmad Al Jaber, Minister of State and ADNOC Group CEO during his visit.
“The two sides will discuss issues of bilateral hydrocarbon as well as steel sector engagement within the overall framework of India-UAE Strategic Partnership,” a statement from MoPNG&S said.
“On the sidelines of ADIPEC, the Indian minister will also meet his counterparts from various countries and Heads of international energy organizations and CEOs of global oil & gas companies, who are attending the conference,” the statement added.
ADIPEC has become one of the most influential global conference in the oil and gas sector, attracting 45,000 attendees, including ministers from various countries, global industry CEOs, policy makers and leading energy companies.
India’s oil sector regulator, Directorate General of Hydrocarbons will also be conducting a Road show to attract foreign investment by global oil and gas majors in India’s exploration & production (E&P) and other areas in oil & gas sector.