Sign in Subscribe
Cabinet officials

India's Steel Industry Aims for Decarbonization and Environmental Sustainability

Strategic Insights

— 2 min read

India's steel industry, a critical component of the country's economic development, is shifting its focus towards decarbonization and environmental sustainability. The National Steel Policy 2017 aims to create a globally competitive Indian steel industry by adopting world-best practices on environment and sustainability. To achieve this goal, solutions and initiatives towards decarbonization and environment management will be key drivers for the industry going forward.

Key Takeaways:

  • The Indian steel industry aims to reduce carbon emissions through the adoption of energy-efficient methods, highly developed energy management systems, and the latest technologies in production processes.
  • The Government of India is aggressively funding projects focused on energy-saving technologies and carbon reduction, with an objective to enhance energy efficiency in the sector.
  • Indian industry has been adopting technologies to reduce associated CO2 emissions via Carbon Capture & Storage and Carbon Capture & Utilization.
  • The industry is exploring new areas like the use of natural gas, hydrogen, and international collaborations to improve its carbon footprint and pace with global counterparts.
  • Modernized businesses in the sector now regard sustainable practices as a fundamental component of planning and development, incorporating these practices into their decision-making processes.
  • Indian industry must take heed of social, environmental, and economic sustainability to effectively operate in the current environment.
  • The world is working towards Green Energy and Green Fuel, with India witnessing developments in this area, but with a need for commercial-scale implementation.

Statistics:

  • 1/3 of all CO2 emissions are man-made, and the industry must realize that clean and green is profitable and sustainable (Source: Mr. Harmit Singh Sethi, Co-Chair, FICCI Cement Committee).
  • Dalmia Bharat Group aims to be carbon-free by 2030 (Source: Mr. Harmit Singh Sethi, Co-Chair, FICCI Cement Committee).
  • India is one of the world's largest consumer markets, with a capacity to consume large amounts of consumables that may have components coming from mining or metal sectors (Source: Mr. Satendra Singh, Joint Secretary, Ministry of Mines, Govt of India).

Sources:

  • Mr Faggan Singh Kulaste, Minister of State in Steel & Rural Development, Government of India.
  • Mr Satendra Singh, Joint Secretary, Ministry of Mines, Govt of India.
  • Mr SK Roongta, Mentor, FICCI Non-Ferrous Metals Committee and Non-Executive Chairman, BALCO.
  • Mr Alok Mehta, Director-Commercial, NDMC.
  • Mr VR Sharma, Co-Chair, FICCI Steel Committee and Managing Director, Jindal Steel & Power Ltd.
  • Mr Harmit Singh Sethi, Co-Chair, FICCI Cement Committee and Executive Director & Group Head, Corporate Affairs & Incubation, Dalmia Bharat Group.
  • Mr Karan Chadha, Head (Business Development-India), Fourth Partner Energy.
  • Mr Pankaj Satija, Co-Chair, FICCI Mining Committee, Senior Member, FICCI Steel Committee and Chief Regulatory Affairs, Tata Steel Ltd.

Read more