India Embracing Sustainable Steel Production for a Greener Future
Key Ideas
  • Sri Bhupathiraju Srinivasa Varma highlights the growth and potential of the steel sector in India and globally, emphasizing the need for technological innovation and sustainability.
  • The Ministry of Steel in India is focusing on reducing carbon emissions in the steel sector, with initiatives like the 'Greening the Steel Sector in India: Roadmap and Action Plan'.
  • Industry experts stress the importance of decarbonization in steel production, mentioning that companies pursuing this path can improve their bottom line and emission intensity significantly.
  • There is a call for collaboration between various stakeholders in the steel industry to transition towards low carbon metal production through innovation and sustainable practices.
The Ministry of Steel in India recently hosted a comprehensive event, MMMM 2024, including an international conference on 'Process & Product Innovations in Metal Production' and an Open Seminar on Green Steel Production in Delhi. Sri Bhupathiraju Srinivasa Varma, the Minister of State for Steel and Heavy Industries, highlighted the remarkable advancements in the global steel sector, reaching close to 2 billion tonnes in production capacity. He emphasized the need for technological innovation and sustainability to meet the growing demand for steel in India and globally. The steel sector in India, currently the second-largest producer, is pivotal for the country's industrial growth. The focus is on reducing carbon emissions, with an aim to achieve Net Zero by 2070, aligning with Prime Minister Narendra Modi's commitment at COP26 in 2021. The sector in India currently contributes around 12% of the total emissions released, with an emissions intensity of 2.5 tons of CO2 per ton of crude steel produced. To address this challenge, the Ministry of Steel released a report titled 'Greening the Steel Sector in India: Roadmap and Action Plan', outlining key recommendations for decarbonization. The report covers various technologies including energy efficiency, renewable energy, green hydrogen, and carbon capture, among others. Sri N N Sinha highlighted the financial benefits of pursuing decarbonization and urged Indian steel companies to embrace this pathway. Industry experts emphasized the importance of collaboration between stakeholders in the industry to transition towards sustainable steel production. Sri Subhankar Sen from BPCL mentioned the support for green practices provided by companies like MAK Lubricants. The event focused on the necessity of innovation, collaboration, and sustainable practices to achieve low carbon metal production in the steel sector.
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