The Ministry of Steel in India has unveiled plans to decarbonize the steel industry through the 'Green Steel Mission', investing Rs 15000 Crore to reduce carbon emissions and work towards achieving a Net Zero target. This initiative includes a Production Linked Incentive (PLI) scheme for 'Specialty Steel' to stimulate domestic manufacturing, with companies committing over Rs 27,000 Crore in investments. The Ministry is also focusing on standardizing green steel production through the Taxonomy of Green Steel and has allocated budgetary support under the National Green Hydrogen Mission. Efforts like the Steel Scrap Recycling Policy aim to promote resource efficiency. Additionally, the Ministry has introduced measures like the Domestically Manufactured Iron & Steel Products policy and reduction in Basic Customs Duty on key raw materials to create a favorable policy environment for steel production and consumption in India.