The Indian government's recent push towards green steel, defined as metal produced through sustainable processes, aims to encourage the steel industry to adopt decarbonization initiatives and increase the use of scrap as a raw material. This initiative includes a 'taxonomy on green steel' that rates products based on their carbon dioxide (CO2) emissions during production. Industry experts have praised this move, emphasizing that it will enhance the competitiveness of the Indian steel sector globally and boost exports. Various measures are being adopted by steel mills to reduce carbon emissions, such as transitioning to green power, using alternative fuels like hydrogen and coal bed methane, and increasing scrap usage. Market research indicates that this initiative will motivate steel mills to lower their carbon footprint, which currently contributes to 12% of India's total emissions. The government's aim of achieving carbon neutrality by 2070 is supported by this initiative, which recognizes the vital role of the steel industry in this transition. Industry bodies have welcomed the establishment of emission intensity thresholds and a greenness index, viewing it as a significant step towards decarbonization in the steel sector. Stakeholders are encouraged to proactively adopt these guidelines and aim for higher green ratings to build a more sustainable and low-carbon future for India. The definition of green steel is based on the percentage greenness of steel, with specific CO2 emission intensity thresholds. Steel with less than 2.2 tonnes of CO2 per tonne of finished steel is considered green. Ratings range from 5-star for products emitting 1.6 tonnes of CO2 or less to 3-star for emissions up to 2.2 tonnes.