India to launch ₹5,000cr national strategy for sustainable secondary steel
India is planning to roll out a ₹5,000 crore plan called the National Strategy for Sustainable Secondary Steel to help the steel industry go greener.
Expected to launch in the next three months, this scheme will back cleaner tech and new materials to cut down carbon emissions.
While all steelmakers can apply, secondary producers (think smaller or recycled-steel players) are expected to get first dibs on funding.
Indian steel emits 2.55t CO2/tonne
Steelmaking in India is a major polluter, responsible for 10% to 12% of the country's greenhouse gasses.
Right now, making one ton of Indian steel creates 2.55 tons of CO2 (way above the global average of 1.9 tons).
This move is part of India's commitment to achieving net-zero emissions and show real progress on climate commitments.
The plan may go before the Union Cabinet soon as part of wider efforts to clean up heavy industries.