Indian steel industry is at the brightest spot in world stage scenario. We are looking forward to the expansion of the steel industry and a robust economy with strong fundamentals, infrastructure and construction. There are certain challenges to overcome like how to improve a good carbon footprint.
We are standing at 2.5 tonnes of Co2 emission per tonne of crude steel which is a cause of inadequate gas resources and other factors. India is forced to do decarbonisation before development with constant optimisation.
Green transition is necessary to achieve goals safeguarding climate. Least fast way is recycling scrap, India steel consumption is low, so scrap is imported. To achieve these green transitions resources are less like access to technology, Intellectual Property strict regime for green technology, cost structure is high.
Let's work to create CCTS (Carbon Credit Trading System) and enhance our production systems and decarbonization effectiveness. Industry should make an effort to give us the emissions data so that the Ministry of Steel can take the appropriate action.
Incorporate cross-learning sessions as well for a deeper comprehension of the steel industry overall. When considering Indian clusters for green transition, the steel industry needs to be given careful consideration.
