India is preparing to launch a Rs 5,000 crore scheme called the National Strategy for Sustainable Secondary Steel within three months. The program targets carbon emission reductions in the steel sector, which accounts for 10-12% of India's total greenhouse gas emissions. India's steel emission intensity is 2.55 tonnes of CO2 per tonne of crude steel, well above the global average of 1.9 tonnes. The scheme will apply to all steelmakers but directs most funds toward secondary steel producers. It focuses on clean technologies and alternative materials to lower the industry's carbon footprint. The government aims to reach 300 million tonnes of steel capacity by 2030 and 400 million tonnes by 2035. This initiative aligns with India's Paris Agreement commitments and net-zero goals. The steel ministry expects cabinet approval soon. The scheme's success will depend on how effectively the funds are deployed to secondary producers who often lack capital for cleaner production methods.
