India's Green Steel Mission: A Step Towards Sustainability in the Steel Industry
Key Ideas
- The Indian government is launching the 'Green Steel Mission' with a budget of Rs 15,000 crore to reduce carbon emissions and move towards the Net Zero Target.
- Initiatives include a PLI Scheme for Green Steel, incentives for renewable energy use, and mandates for government agencies to buy Green Steel.
- The National Green Hydrogen Mission integrates the steel sector into green hydrogen production, aiding the decarbonisation of steel manufacturing.
- Various policies and pilot projects are in place to promote green steel production, reduce imports, and position India as a global leader in the steel industry.
The Ministry of Steel in India has unveiled the 'Green Steel Mission' as part of efforts to make the steel industry more sustainable and reduce carbon emissions. The mission involves a significant budget allocation of Rs 15,000 crore to support initiatives like the PLI Scheme for Green Steel, promoting renewable energy use, and encouraging the purchase of Green Steel by government entities. Additionally, the National Green Hydrogen Mission, led by the Ministry of New and Renewable Energy, aims to incorporate green hydrogen production into the steel sector, contributing to the industry's decarbonisation.
Various reports and policies have been released to support the transition towards green steel, including the Taxonomy of Green Steel, Steel Scrap Recycling Policy, and Taxonomy for Green Steel. Pilot projects for producing Direct Reduced Iron using hydrogen and injecting green hydrogen into existing units are underway. The government has also introduced a production-linked incentive scheme to boost domestic manufacturing of Specialty Steel and reduce imports.
Efforts are being made to position India as a global leader in the steel industry through a comprehensive global strategy. This includes formulating standards for steel production, quality control orders, and promoting collaborations in raw materials, investments, technologies, and steel exports. By enforcing quality control measures, the government aims to ensure the supply of high-quality steel products in the market.
Topics
Production
Renewable Energy
Environmental Sustainability
Steel Industry
Government Initiatives
Technology Advancement
Manufacturing Sector
Quality Control
Global Strategy
Latest News