Government -owned steel company SAIL (Steel Authority of India Limited) has established its office in Dubai with the objective of availing opportunities in emerging markets, in an official statement on Friday.
According to the statement, Sail is the third such public sector unit under the Ministry of Steel, which has opened its foreign office in Dubai. This office has been formally inaugurated. This is SAIL’s first international representative office in the Middle East, which is considered an important step in the company’s global expansion strategy. Through the move, SAIL will now actively search for business prospects in the Middle East and North Africa region. The Steel Ministry has described this initiative as ‘a strong attempt towards making Make in India global’.
Union Minister HD Kumaraswamy inaugurated Sail Dubai office
Union Minister HD Kumaraswamy inaugurated the Sail Dubai Office. This will give steel and heavy strength to expansion in the MNA region. Industry Minister HD Kumaraswamy inaugurated the first International Representative Office of SAIL (Steel Authority of India Limited) in Dubai on Thursday. Dubai -based Consul General Satish Kumar Sivan, SAIL Chairman Amarendra Prakash, and other senior officials of the ministry were also present on the occasion.
This office located in Dubai will serve as a strategic center, aimed at increasing SAIL’s steel export capabilities, strengthening industry and further intensifying India -UAE business relations.
According to the statement, Dubai is considered to be the entrance to the Mena (Middle East and North Africa) region and its investor-friendly policy provides an ideal basis for expanding markets for SAIL.
According to the Ministry of Steel, this office located in Dubai will act as a strategic hub, which is to SAIL:
Increase steel exports,
To deepen the relations related to the industry, and
India -UAE will help strengthen trade relations.
The ministry also said that the position of Dubai gives an ideal basis for expanding the emerging markets as the entrance to the Middle East and North Africa region and the investor-unseen environment there. The statement also stated that the move symbolizes development as a global competitive steel manufacturer of SAIL and also reflects India’s growing role on the international steel stage.
This step is in line with India’s vision that the country’s steel industry should get a strong presence globally and by 2030, the national target of 300 million tonnes of steel production can be achieved. It is an important milestone towards development as a global competitive steel manufacturer of SAIL, and also shows India’s growing credibility in the international steel market.
