New Delhi, Oct. 12 -- Union Finance Minister Nirmala Sitharaman on Monday invited the World Steel Association (Worldsteel) to consider opening an office in India, citing the country's growing importance in global steel demand and its expanding production capacity.

Addressing the World Steel Association's General Assembly in New Delhi, Sitharaman said India had emerged as a major source of incremental demand for steel, creating an opportunity for the global industry body to strengthen its presence in the country.

"As Worldsteel enters its 60th year, I would invite the Association to consider establishing an office in India," she said.

Sitharaman noted that Worldsteel had opened its Beijing office in 2006, when China accounted for much o...