A report from the India Energy and Climate Center suggests that switching to green hydrogen-based steelmaking could save India $1 trillion in coking coal import costs over the next forty years. By replacing imported coal with domestic renewable energy, India can reduce its exposure to currency volatility and global commodity price spikes. The shift is also a strategic move to avoid European Union carbon tariffs. As the Carbon Border Adjustment Mechanism (CBAM) takes effect, low-carbon steel will be essential for India to maintain its export competitiveness in global markets.
