India, Indonesia ink pact for cooperation in critical minerals and technology of steel supply chain

New Delhi: India and Indonesia on Tuesday signed an agreement for cooperation in the field of minerals and the technology of the steel supply chain. The pact was one of the 14 agreements inked between the two sides to enhance cooperation in a range of areas, including critical minerals and the steel supply chain, maritime security, medicines, education, outer space, research and innovation, telecommunications and food security, against the backdrop of increasing geopolitical upheavals.

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Prime Minister Narendra Modi is on an official visit to Indonesia from 6-8 July, an official statement issued here said.

PM Modi landed in Jakarta on Monday to a red-carpet welcome in the first leg of his three-nation tour to strengthen trade and security cooperation under the framework of the India-Indonesia Comprehensive Strategic Partnership of 2018. "The leaders also welcomed the signing of the MoU on cooperation in the field of Minerals and Technology of the steel supply chain," the statement said.

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The leaders have also welcomed the Strategic Joint Venture between Steel Authority of India Ltd. (SAIL) and PT. Krakatau Steel to explore the establishment of a stainless-steel Slab manufacturing facility in Indonesia. SAIL is India's largest public sector steel manufacturing player with an annual capacity of over 20 million tonnes.

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