India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The government is preparing a ₹5,000-crore scheme to promote decarbonisation in the steel sector, Steel Secretary Naved Masood announced. The scheme aims to accelerate the adoption of green technologies such as hydrogen-based steelmaking, renewable energy integration, and carbon capture solutions.
Speaking at an industry event, Masood said the initiative would provide both financial incentives and policy support to encourage steel producers to cut emissions and align with India’s climate goals. The steel sector, currently responsible for a significant share of industrial greenhouse gas emissions, is under pressure to transition toward sustainability while meeting rising domestic demand.
The secretary highlighted that decarbonisation is not just an environmental priority but also an economic necessity, as global buyers increasingly demand low-carbon steel. He emphasized that India’s position as the second-largest steel producer must be matched by investments in cleaner, energy-efficient technologies.
Industry representatives welcomed the proposal, noting that high upfront costs are a major barrier for adopting green steel practices. The scheme is expected to play a pivotal role in making India a global hub for sustainable steel production.
Also Read : Steel Dynamics to Fully Acquire New Process Steel Fuat Tosyali Warns of Irreparable Damage to Turkish Steel Industry from Chinese Dumping
The United States is urging Iraq to restart a vital oil pipeline to Turkey and crack down on Kurdish...
Oil & Gas 22-Feb-2025
Tata Steel Targets 10–15 Million Tonnes of Green Steel via Recycling by 2040 Tata Steel is ch...
Large Corporate 16-Jun-2025
After a successful and enthusiastically concluded industry interaction on February 16, 2024, in Hyde...
Press Releases 20-Feb-2024
India’s small and mid-sized steel and aluminium exporters are urging the government to lower i...
USA 07-Mar-2025
Chinese steel is up to 12% cheaper than Indian products. Trade and tariff uncertainties are fueling...
China 11-Apr-2025
The proposed trade agreement between India and the UK has reportedly been shelved for the upcoming f...
Business 19-Mar-2024