Driving Innovation in Steel Sector for Sustainable Future
Key Ideas
- Minister of State highlighted the technological advancements in the steel sector driving global production to 2 billion tonnes, emphasizing the need for sustainable practices.
- India, the second-largest steel producer, aims to continuously grow its steel production through innovation and digitization while reducing its carbon footprint.
- The Ministry of Steel released a roadmap for greening the steel sector in India, focusing on technologies like Green Hydrogen, Energy Efficiency, and Carbon Capture to achieve decarbonization.
- Industry experts emphasized the financial benefits of decarbonization efforts and the importance of collaboration across various sectors for the transition to low-carbon metal production.
Minister Bhupathiraju Srinivasa Varma inaugurated the MMMM 2024 event in New Delhi, focusing on innovation and sustainability in the steel sector. He praised the advancements that have boosted global steel production to nearly 2 billion tonnes and outlined the potential for continued growth in India, which is currently the second-largest steel producer. Varma stressed the importance of digitization and sustainable practices to reduce environmental impacts. The Ministry of Steel's report, 'Greening the Steel Sector in India: Roadmap and Action Plan,' recommends technologies like Green Hydrogen and Carbon Capture for decarbonization. Former Secretary N N Sinha highlighted the financial benefits of pursuing decarbonization pathways. Subhankar Sen from BPCL discussed the role of sustainable practices in complementing the steel industry's growth. The event also saw the release of the Conference Volume and discussions on the collaboration needed for a successful transition to low-carbon metal production.