Indian steel industry must decarbonize and find new export markets to stay competitive as EU CBAM and US tariffs reshape trade

A senior Indian government official told the ASSOCHAM India Steel Conclave 2026 that the country's steel sector needs to diversify export markets and speed up decarbonization to remain competitive. The warning comes as the EU's Carbon Border Adjustment Mechanism (CBAM) and US Section 232 tariffs change the rules for global steel trade. India's steel production is carbon intensive, which will make exports to the EU harder under CBAM. The official framed this as a chance to modernize technology and cut emissions. Separately, ArcelorMittal Nippon Steel India noted that India imports about 85% of its coking coal, creating supply chain risks.