New Delhi, May 25 (PTI) Industry body Indian Steel Association (ISA) on Thursday announced signing an agreement with ASEAN Iron and Steel Council (AISC) to unlock new avenues of growth and sustainability in steel sector.

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ISA is the apex industry body which represents the issues and interests of the domestic steel industry.

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The Memorandum of Understanding (MoU) between the two organisations was signed on Sunday May 21, 2023 in Manila, Philippines, ISA said in a statement.

"ISA and AISC signed a MoU for bilateral cooperation. It aims to leverage the strengths, expertise, and resources of both organizations to unlock new avenues for growth, innovation, and sustainability in the steel industry," it said.

The delegation from India was led by ISA president and AMNS India CEO Dilip Oommen and ISA Secretary General Alok Sahay, while AISC President and President Director of PT Krakatau Steel Purwono Widodo attended the MoU signing.

Widodo emphasised the significance of the steel industry in both India and ASEAN countries. He highlighted the potential for collaboration in areas such as technology exchange, R&D, trade facilitation and market growth.

Oommen in his opening remark highlighted the importance of producing environmentally and economically viable steel and acknowledged the pivotal role the steel industry plays in driving infrastructural development, employment generation and economic progress.

"Discussions also focused on decarbonization efforts, emphasizing the importance of defining near-zero emission steel, establishing measurement standards, and adopting sustainable production technologies. The importance of technology, innovation, and government support in achieving decarbonization goals was emphasized," it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)