India's Steel Expansion: Coal Reliance and Carbon Emission Risks
thefinancialworld.comIndia is rapidly expanding its steel production capacity, with a pipeline nearly three times larger than China's. However, over 90% of this new capacity relies on coal-based blast furnaces, risking a long-term lock-in of high industrial carbon and methane emissions. Global trade regulations like the EU's Carbon Border Adjustment Mechanism (CBAM) are putting pressure on Indian steelmakers to pivot toward green hydrogen and scrap-based production to avoid steep export tariffs.