India's steel sector is facing a massive financial risk due to its reliance on imported coking coal, with potential costs reaching $1 trillion over 40 years. To mitigate this and avoid heavy EU carbon levies under CBAM, major producers like Tata Steel and JSW Steel are pivoting toward green hydrogen and domestic renewable energy. While the transition promises to reduce currency volatility and carbon intensity, it requires significant capital expenditure. The success of this shift depends on reaching green hydrogen price targets of $1.5 to $3 per kilogram by 2030 to keep green steel competitive with traditional blast furnace production.
