Bhupathiraju Srinivasa Varma, the Minister of State for Steel and Heavy Industries, formally inaugurated the prestigious MMMM 2024 event, which took place from 27th September 2024 to 29th September 2024 at Yashobhoomi. This comprehensive gathering featured an international conference focused on “Process & Product Innovations in Metal Production” alongside an open seminar dedicated to Green Steel Production.
The event was jointly organized by Hyve India Ltd, the Indian Institute of Metals (Delhi Chapter), Metalogic PMS, and the World Metal Forum. In his inaugural speech, the Hon’ble Minister praised the groundbreaking technological advancements and enhanced material efficiency within the steel industry. He highlighted how these innovations have propelled global steel production from mere kilograms in the early industrial age to nearly 2 billion tonnes today, with the total global steel production capacity nearing 2.5 billion tonnes.
Bhupathiraju Srinivasa Varma further emphasized that the demand for steel, both in India and globally, will continue to grow in the foreseeable future. He noted India’s remarkable progress as the second-largest steel producer globally, with an installed capacity of 178 million tonnes and actual production reaching 144 million tonnes in FY’24. This strong growth trajectory positions Indian steel for a bright future.
The Minister also reflected on the steel sector’s pivotal moment in its development, asserting that its future evolution will be driven by the integration of digitalization in its processes and a firm commitment to sustainable steel production. These advancements are critical in reducing emissions and shrinking the industry’s carbon footprint.
He reminded the audience that Prime Minister Narendra Modi had made a historic pledge at COP26 on November 2, 2021, to reduce India’s carbon intensity by more than 45 percent by 2030 and to achieve Net Zero emissions by 2070. Highlighting the steel sector’s environmental impact, Varma noted that globally, the industry accounts for approximately 8 percent of total emissions, with an average emission intensity of 1.89 tonnes of CO2 per tonne of crude steel produced.
In contrast, India’s steel sector contributes around 12 percent of the country’s total emissions, with a higher emission intensity of 2.5 tonnes of CO2 per tonne of crude steel production. Recognizing the urgency of addressing these environmental challenges, the Ministry of Steel recently released an important report titled “Greening the Steel Sector in India: Roadmap and Action Plan.”
The report was developed based on the recommendations of 14 task forces established by the Ministry to define a clear pathway toward decarbonizing the steel industry. It provides detailed recommendations on various technologies, including energy efficiency measures, the integration of renewable energy, the use of green hydrogen, enhancing material efficiency, transitioning from coal-based DRI production to natural gas-based DRI, and the deployment of Carbon Capture, Utilization, and Storage (CCUS) technology.
Additionally, the report explores the potential use of biochar in steel production as part of broader efforts to minimize the sector’s carbon footprint. N N Sinha, the former Secretary of the Ministry of Steel, also addressed the audience, referencing a recent report by the Boston Consulting Group (BCG). He mentioned that companies actively pursuing decarbonization strategies have seen improvements in their financial performance.
The report highlights that organizations focusing on internal process enhancements could reduce their emissions intensity by 10 to 40 percent. Sinha stressed that with the government’s clear roadmap in place, it is now time for Indian steel companies to step up and lead the way.
Subhankar Sen, Business Head of BPCL, contributed to the discussion by noting the role of MAK Lubricants from Bharat Petroleum in supporting the steel industry’s impressive growth, which is projected to reach 300 million tonnes by 2030. He also acknowledged the industry’s increasing focus on sustainable practices and the shift towards green steel production.
During the event, the Minister of State released the Conference Volume and Souvenir of the International Conference on “Process and Product Innovations in Metal Production,” organized by the Indian Institute of Metals – Delhi Chapter. He urged the steel industry to prioritize process innovations and foster strong collaborations between primary and secondary metal producers, academic institutions, research organizations, capital equipment manufacturers, and the downstream metal-consuming industries.
