Steel production, a crucial component of global infrastructure, faces environmental challenges due to its heavy reliance on coal, leading to substantial CO2 emissions. To address this, researchers from IIT Bombay are advocating for the adoption of hydrogen-based direct reduction of iron (H-DRI) as a sustainable alternative. This method utilizes hydrogen instead of coal in the steel production process, resulting in water vapor rather than CO2 emissions. The shift towards 'green' hydrogen production through water electrolysis powered by renewable energy is seen as a key solution. However, challenges such as high costs and the need for effective catalysts like cobalt-based cobaloximes persist. These catalysts, though more affordable than noble metals, require further modifications for industrial-scale hydrogen production. By enhancing the stability and efficiency of cobaloximes, researchers aim to optimize hydrogen generation rates. Additionally, the study emphasizes the importance of selecting appropriate electrolysers and furnaces, highlighting the potential of combining hydrogen-based iron reduction with electric arc furnaces for carbon-neutral steelmaking. The integration of green hydrogen with CCUS strategies further enhances emissions reduction and promotes a circular economy by repurposing captured CO2. The research underscores the potential of innovative solutions in transforming the steel industry towards sustainability, showcasing a pathway towards a greener and more efficient future.