India and the UAE are strengthening their economic partnership, with a particular focus on industrial cooperation and green steel prospects in Ras Al Khaimah (RAK). This collaboration aligns with India's growing need for raw materials and the UAE's strategic vision for sustainable development.
Union Steel Minister H.D. Kumaraswamy met with Sheikh Saud Bin Saqr Al Qasimi, the Ruler of Ras Al Khaimah, to discuss opportunities for collaboration. These discussions included securing long-term access to low-silica limestone from RAK, which is essential for steel production. They also explored expanding trade partnerships through value-added steel exports from India and establishing calcined lime production units using RAK's local limestone and natural gas.
A significant aspect of the collaboration is the focus on green steel. Both sides discussed potential collaboration in green hydrogen and green steel production. The UAE has been making strides in green steel production through innovative projects like the one by Masdar and EMSTEEL, which uses green hydrogen to reduce carbon emissions in steel manufacturing. This aligns with the UAE's net-zero ambitions and its national hydrogen economy goals.
Kumaraswamy also extended an invitation for RAK to explore collaborations in infrastructure development, energy components, and raw material value chains. He emphasized that India views steel as a backbone of its infrastructure, mobility, energy, and manufacturing sectors and that RAK's mineral wealth, industrial potential, and clean energy focus make it an ideal partner for India's next-generation steel and resource strategy.
To further facilitate these collaborations, the Union Minister inaugurated international offices for NMDC Limited and MECON Limited in Dubai. NMDC's new office will focus on mineral asset acquisitions, strategic joint ventures, and diversifying sourcing of key inputs for India's clean energy and industrial manufacturing sectors. Dubai's location at the crossroads of Asia, Africa, and Europe will allow NMDC to build international mineral supply chains that directly support India's domestic industries. MECON's Dubai operations will concentrate on industrial project execution and planning, oil & gas infrastructure design, steel plant feasibility and expansion consultancy, green steel and decarbonisation strategies, and smart manufacturing and digital twin technologies.
SAIL, one of India's largest steel producers, already sources approximately 2.5 million tonnes of limestone annually from RAK-based Stevin Rock LLC. Future procurement is set to increase as part of SAIL's capacity expansion plans.
Ras Al Khaimah has been actively working to strengthen economic ties with India. In January 2025, leaders from both countries met in RAK to fortify their partnership and explore new avenues for cooperation. Sheikh Saud bin Saqr Al Qasimi emphasized the historical depth of UAE-India relations and RAK's commitment to fostering a business-friendly environment for Indian businesses. Multiple Memorandums of Understanding (MoUs) have been signed between the Ras Al Khaimah Economic Zone (RAKEZ) and key Indian institutions to strengthen industrial cooperation and facilitate business expansion.
The UAE is India's third-largest trading partner, with trade volumes reaching $85 billion. The ambitious target of $100 billion in non-oil trade and $15 billion in services trade by 2030 underscores the potential for further growth in the partnership. RAKEZ has also partnered with the All India Association of Industries (AIAI) to enhance mutual trade and investment opportunities. Approximately 6,000 Indian companies are thriving within RAKEZ, contributing to its diverse economic landscape.
This collaboration between India and Ras Al Khaimah signifies a strategic move towards enhancing economic cooperation, promoting sustainable development, and securing access to essential resources for India's growing steel industry.
