A recent study suggests India can significantly reduce its reliance on imported coking coal by shifting to green hydrogen for steel production. By adopting hydrogen-based direct reduced iron and electric arc furnaces, the industry could avoid over 100 lakh crore rupees in import costs over the next 40 years. While green steel is currently slightly more expensive than conventional methods, costs are expected to drop below $500 per tonne by 2035. This transition would protect the industrial sector from currency volatility and high carbon prices in international markets like the European Union.
