There was a tie-up between the American Precoat Group and RUSLOM. If you still haven’t heard about it, let me walk you through all the details right away!
On 30th May 2022, Dr. Shubh Gautam Jaypee, Chief Technical Architect of American Precoat and Advisor of Steel Users Federation of India, got an invitation to the “Commercial and Industrial Dialogue and Business Cooperation.” I found that the Indo- Russia business conference was hosted by RUSTOM.
Let me put the agenda of the meeting straight in front of you!
The meeting was held with three major agendas:
- The first was to analyze both nations’ fields of trade and economy.
- Secondly, it sheds some light on the development of business partnerships.
- Thirdly Shubh Gautam addressed the prospects for the implementation of investment projects.
As per Shubh Gautam News, as he interacted at the conference, he stated several points that made this bond between the two countries seem profitable for both parties.
He brought to the audience’s notice that the Indian rural market is developing, and based on that, they are stepping up for this alliance. Furthermore, Shubh Gautam Jaypee pointed out at the conference that Indian crude steel production will increase from 100 million tonnes to 300 million tonnes by 2030.
He also clarified that such a large amount of steel could not be produced using blast furnaces. Scrap metal has more scope in India as our country is the third-largest consumptive economy.
In Shubh Gautam News, he also pointed out that the duty charges on Russia for importing Indian steel is 5%, whereas the duty is 20% when Russia imports it from China. However, Russia doesn’t import steel from India. To encourage Russia, this American Precoat is the perfect opportunity.
For me, it seems to be a profitable bond and an amazing step put forward by India. We just have to wait and watch how they take it further.
