India Aims for 300 MTPA Steel Capacity by 2030 with Green Steel Strategies
India targets 300 MTPA crude steel capacity by 2030, focusing on green steel production to meet rising domestic demand. Structural challenges hinder growth, including low raw material availability and high hydrogen costs. Recommendations include digitizing the scrap ecosystem, enhancing domestic scrap generation, and developing green hydrogen hubs. Despite representing 12% of industrial CO₂ emissions, the steel sector sees limited R&D investment. Coordinated action and government support are essential for sustainable growth in the sector.
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India aims for 300 MTPA crude steel capacity by 2030, driven by infrastructure and manufacturing growth. Current crude steel production increased by 11.7% year-on-year. However, challenges persist, including inadequate raw materials for green steel and high hydrogen production costs.
Key recommendations include establishing a national scrap registry, incentivizing end-of-life vehicle recycling, and developing green hydrogen hubs. The steel sector contributes about 12% of industrial CO₂ emissions, necessitating significant R&D investment to transition to green steel production. Government actions should focus on carbon pricing, renewable energy integration, and incentivizing R&D funding to enhance innovation and competitiveness.
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