India's ₹5,000 crore green steel scheme aims to cut industrial emissions in three months

The Indian government plans to launch a ₹5,000 crore scheme within three months to promote clean technologies in steelmaking and reduce carbon emissions. The National Strategy for Sustainable Secondary Steel will target secondary steel producers, who account for nearly half of India's steel output. The steel sector contributes 10-12% of the country's greenhouse gas emissions, with an emission intensity higher than the global average. The scheme will offer concessional loans, risk guarantees, and other incentives to help steelmakers adopt renewable energy, improve raw materials, and upgrade operational practices. This is part of India's broader goal to achieve net-zero emissions under the Paris Agreement. The focus on secondary producers using scrap and sponge iron could make a significant dent in the sector's carbon footprint if implemented effectively.