As the nation works toward achieving net zero by 2070, Prime Minister Narendra Modi highlighted the need for carbon capture in developing India’s steel sector.
He pointed out that India’s iron and steel industry, which is the second largest in the world, is at a turning point as it aims to produce 300 million tonnes (MT) of crude steel by FY 2030–31 and 500 MT by 2047.
The steel industry needs to switch to greener production practices because it accounts for 10–12% of greenhouse gas emissions. Important advances towards low-emission steel production have been taken with the introduction of a green steel taxonomy and the allocation of Rs 455 crore for green hydrogen projects.
Additionally, a Rs 20,000 crore investment in technologies for carbon collection, utilisation, and storage seeks to significantly lower emissions from steelmaking operations.
