The Indian government is close to approving a $570 million corpus to provide fiscal incentives for sustainable steel production.
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Target beneficiaries: Secondary steel producers (half of India’s finished steel output), though blast furnace operators may also qualify under specific conditions.
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Policy framework: Part of the National Steel Policy 2017, which sets a goal to cut CO₂ emissions to 2.6–2.7 mt per mt of crude steel via electric arc furnace (EAF) technology by 2030.
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Projection: By 2030, India’s green steel output could reach 4.49 million mt, driven by infrastructure, construction, and auto demand.
This move reinforces India’s commitment to low-carbon pathways in steelmaking.
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