Cash for cleaner steel: India launches ₹1,000/tonne incentive plan
India is launching a new scheme that rewards steel companies for lowering their carbon emissions—think of it as cash for cleaner steel.
The plan is also about keeping India's $25 billion steel exports safe from tough new EU carbon taxes.
Companies can earn up to ₹1,000 per ton of steel produced, based on their year-on-year reduction in CO2 emissions.
Steel is a big deal in India
Steel is a big deal in India—it's the world's second-largest producer—but it also creates more pollution than the global average, making up 12% of the country's total emissions.
This incentive program (running from 2026-27 to 2030-31) pushes companies to switch to greener tech and aims for 60 million tons of sustainable steel by 2031.
If it works, it means less pollution here at home and keeps Indian steel competitive worldwide—a win-win for climate goals and jobs.