India's Steel Industry: Green Transition and Global Leadership
Key Ideas
- Union Minister to launch 'PLI scheme 1.1' for the steel industry, aiming to attract more investment and employment.
- Introduction of 'Green Steel Mission' with a focus on reducing carbon emissions and promoting environmental sustainability.
- Involvement of steel sector in the National Green Hydrogen Mission to produce and use green hydrogen, contributing to decarbonisation.
- Formulation of a comprehensive global strategy to position India as a leader in the steel industry and enhance steel exports.
Union Minister H.D. Kumaraswamy will launch the 'PLI scheme 1.1' for India's steel industry in New Delhi, aiming to attract more investment and employment. The Steel Ministry's PLI scheme, initiated in November 2020, has already seen significant investment and job creation in the specialty steel sector. The Ministry is also focusing on the 'Green Steel Mission' to reduce carbon emissions and move towards a Net Zero target. The integration of the steel sector into the National Green Hydrogen Mission highlights the commitment to decarbonisation and sustainability. Pilot projects utilizing hydrogen in steel production are underway, showing a shift towards greener practices. Additionally, the government is working on a global strategy to position India as a key player in the steel industry, focusing on raw materials, investments, technologies, and exports. These initiatives collectively aim to drive a positive transformation in India's steel sector towards sustainability and global leadership.
Topics
Projects
Steel Industry
National Green Hydrogen Mission
Production-linked Incentives
Green Steel Mission
Steel Global Strategy
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