India plans Rs 5,000 crore scheme for green steel technologies to cut carbon emissions

India's central government is preparing to launch the National Strategy for Sustainable Secondary Steel, a Rs 5,000 crore incentive scheme aimed at reducing carbon emissions in the steel industry. The scheme, expected within three months, targets both primary and secondary steel producers but will focus financial support on smaller secondary producers who face higher costs for adopting cleaner technologies. The steel sector accounts for about 10-12% of India's total greenhouse gas emissions, with emission intensity at 2.55 tonnes of CO2 per tonne of crude steel, above the global average of 1.9 tonnes. The initiative aligns with India's net-zero by 2070 goal and aims to improve energy efficiency, promote alternative raw materials, and strengthen competitiveness as global markets demand low-carbon products.