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Consortium Drives Government Effort for Affordable Green Steel

Announcement 03 Aug 2024 04:28 PM IST PTI

In an initiative to enhance sustainability and affordability in the steel industry, the Indian government has launched a new consortium dedicated to advancing green steel technology. This move aims to make eco-friendly steel production more accessible and cost-effective, marking a significant step in India’s commitment to reducing its carbon footprint.

The consortium, announced today by the Ministry of Steel, will bring together leading steel producers, academic institutions, and technology innovators to collaborate on developing advanced green steel technologies. The primary objective is to lower production costs and make sustainable steel more affordable for consumers and industries alike.

Rajesh Kumar, Secretary of the Ministry of Steel, emphasized the transformative potential of this initiative. “The formation of this consortium is a strategic effort to democratize green steel technology,” Kumar said. “Our goal is to make green steel not only technologically viable but also economically accessible, ensuring that sustainability becomes an integral part of the steel industry.”

Industry stakeholders have expressed strong support for the consortium’s objectives. Anil Sharma, a prominent industry analyst, noted, “This consortium represents a significant leap forward in making green steel technology accessible and affordable. It’s a crucial step towards achieving both environmental and economic goals within the industry.”

The government’s initiative aligns with India’s broader climate strategy, which includes ambitious targets for reducing greenhouse gas emissions and promoting sustainable industrial practices. By fostering collaboration between various sectors and investing in innovative technologies, the consortium aims to position India as a leader in affordable green steel production.

The formation of this consortium is expected to stimulate substantial progress in the field, with anticipated benefits including reduced production costs, lower environmental impact, and increased global competitiveness for Indian steel manufacturers. As the consortium begins its work, the industry and environmental advocates will be watching closely for advancements that could reshape the future of steel production.

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Consortium Drives Government Effort for Affordable Green Steel

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