India will announce a formula for defining green steel by mid-December and is working on government procurement for decarbonized steel, Sources told Reuters on Monday.
Amidst the various steps toward increasing India’s production capacity for steel by 2030 to meet the growing demands of the Infrastructure industry, as per Experts on the report.
India’s steel production has been developing since 2017, rising 6% per year on average, faster than global steel production and consumption. The country consumes most of its steel production, and the energy and emissions of Indian steel are identified as three factors: coal dependence, market structure, and technology mix.
India’s Ministry of Steel had unveiled an ambitious and comprehensive strategy to decarbonize the nation’s steel sector, marking the culmination of an 18-month collaborative effort with industry stakeholders.
However, the federal Ministry of Steel did not immediately respond to a Reuters email for comments. Further updates are unreleased.