Steel Minister invites UK, Luxembourg firms to invest in India

Steel Minister Chaudhary Birendra Singh has invited companies from the UK and Luxembourg to invest in India.

"Singh, who was on a 3-day visit to UK and Luxembourg, invited companies and businessmen from these two countries to invest in India and be a partner in India's growth story," the Steel Ministry said in a statement today.

The minister, who returned to India yesterday, was accompanied by senior officials from Ministry of Steel and state-run steelmaker SAIL, it added.

Singh met Deputy Prime Minister of Luxembourg Etienne Schneider and discussed various issues of mutual interest.

He highlighted the significance of Luxembourg from steel industry's point of view and expressed gratitude to Schneider for taking a keen interest in business relations with India, the statement said.

The minister invited Luxembourg government and businesses to explore opportunities for enhancing their business presence in India and assured of full support of the Indian government.

He also visited the offices of engineering giant Paul Wurth and the world's largest steel maker ArcelorMittal and met their top management representatives.

Singh shared details of steps being taken by the central government to improve ease of doing business and facilitate foreign investment.

"The minister shared his vision for steel industry in India and termed R&D as the key driver for sustainable growth of the industry," the statement said.

He stated that steel producers will have to come forward and demonstrate advantages of using steel by executing innovative pilot projects, it added.