An Indian delegation led by union steel ministry signed
a letter of intent (LoI) with Brazilian government to strengthen cooperation between the two nations in steel and mining sectors.
Executive Secretary (Mines and Energy), Government of Brazil signed the agreement on behalf of that country.
The two countries have emerged as large markets after China in terms of their growth potential among the developing countries.
The LoI aims to focus on strengthening the supply chain and facilitating exchange of technical know-how for the growth of the steel industry, including pelletisation plants, in both the countries, besides promoting and expanding bilateral relations.
According to a government press release, the Indian delegation also explored the possibility of signing a memorandum of understanding during the forthcoming visit of the President of Brazil to India as the two countries have been showing robust growth in the consumption of steel.
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