India's steel sector is struggling with declining iron ore quality, which increases energy use and carbon emissions. While green steel pilots are underway, commercial scaling is hindered by a lack of available scrap metal, with only 25 percent of steel currently producible from scrap. Industry experts suggest that a Carbon Credit Trading System (CCTS) could incentivize emission cuts, provided carbon credits are valued between 80 and 100 USD. The transition involves a shift toward electric arc furnaces and renewable energy to reduce emissions by up to 80 percent.
