India's Ministry of Steel is preparing a $529 million (Rs 5,000 crore) incentive program to help steel producers reduce carbon emissions and accelerate the adoption of cleaner production technologies.

The proposed initiative, expected to be launched within the next three months pending cabinet approval, will support projects that improve energy efficiency, increase the use of alternative raw materials, and promote low-carbon steelmaking. A significant share of the funding will be directed toward secondary steel producers, which account for a large portion of the country's steel output.

India's steel industry currently emits around 2.55 metric tons of CO₂ per metric ton of crude steel, significantly higher than the global average of approximately 1.9 metric tons. The sector is also responsible for 10–12% of the country's total greenhouse gas emissions.

The new program forms part of India's broader strategy to decarbonize its steel industry while maintaining production growth and improving global competitiveness.

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