Adopting low-emission technologies in steelmaking is no longer optional but essential, Union Minister for Steel HD Kumaraswamy stated during his address at the BigMint Future Steel Conclave. The event, which spotlighted innovation and next-gen technologies, brought attention to the urgent need for the steel sector to move toward more sustainable practices.
“The shift to green steel is a must, not a preference,” the Minister said during his virtual speech, underlining the importance of decarbonisation in line with India’s broader environmental goals. He highlighted that the development of a green steel taxonomy is progressing well and will offer clear benchmarks and incentives for companies embracing cleaner methods.
Referring to the roadmap ahead, Shri Kumaraswamy said, “Under the dynamic leadership of Prime Minister Narendra Modi, India’s steel sector is growing rapidly, aiming for a capacity of 300 million tonnes by 2030. Our approach is not just about scaling up—it’s also about making growth sustainable, aligned with our net-zero target for 2070.”
In December 2024, the government released an official definition of “green steel” and encouraged manufacturers to reduce carbon emissions to below 2.2 tonnes per tonne of finished steel. With the steel industry contributing approximately 7% of global CO₂ emissions, and India being the world’s second-largest producer, Shri Kumaraswamy noted the country is well-positioned to lead in low-carbon production practices.
A newly developed framework will serve as a guiding tool for rating steel products based on emissions during manufacturing, aiming to steer the industry toward greener operations throughout the value chain. The Minister also acknowledged the broader challenges confronting the sector, including access to key raw materials like iron ore and coking coal, as well as navigating international market uncertainties.
“The ministry is continuously reviewing regulations and support measures to protect and advance our domestic producers. Our goal is not just to stay competitive, but to take a leadership role globally,” Shri Kumaraswamy concluded.
