India's Shift To Green Steel Could Take Decades: Industry Leaders

(MENAFN- KNN India) New Delhi, Jul 4 (KNN) India's transition to green steel - steel produced with reduced carbon emissions - is expected to take decades, according to industry experts at a recent event organised by the Indian Steel Association and the Union Steel Ministry.

Despite the country's goal to become net-zero by 2070, major players in the steel sector say that immediate large-scale adoption of green technologies is unlikely due to high costs and limited infrastructure, according to business standard.

Traditional steelmaking processes remain deeply entrenched in India, with over 75 per cent of steel still being produced using coal-based methods like blast furnaces and direct reduced iron (DRI).

Leaders from JSW Steel, Tata Steel, and ArcelorMittal Nippon Steel India acknowledged the importance of decarbonisation but highlighted the economic and logistical barriers.

They stressed that hydrogen-based steelmaking, often promoted as a green alternative, remains expensive and lacks the necessary supply chain in India.

Binoy Kumar, Chairperson of the ISA, emphasized that while India is committed to sustainability, the steel sector's transition will require substantial policy support, technological innovation, and international partnerships.

He noted that some progress is being made through pilot projects and increased awareness, but large-scale transformation will take time.

Experts also pointed out that government incentives and a clear carbon pricing policy are essential to make green steel competitive. Without this, the cost burden will fall on producers and consumers, slowing down adoption.

In the meantime, the focus is on improving energy efficiency and using more scrap-based production, which emits less carbon.

However, with steel demand projected to grow rapidly due to infrastructure development, balancing growth with sustainability will remain a major challenge.

(KNN Bureau)

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