The Indian government is working on a policy to make it mandatory for steel companies to devote part of their capacity for production of green steel, Indian steel minister Jyotirditya Scindia said in a statement on Thursday, April 20.
The minister also said that the policy will explore ways to ensure higher usage of green steel in government-funded projects.
He said that green steel is the future and that Indian companies will need to increase their share of its production by a combination of setting up new green capacities and converting existing capacities to green steel production.
The minister said breakthrough technologies and disruptive innovations like hydrogen-based steelmaking coupled with carbon capture, utilisation and store (CCUS) hold huge promise for the future. Green steel refers to the production of steel without use of fossil fuels.