Overview
- The Union Budget earmarks Rs 20,000 crore to pilot carbon capture, utilisation and storage across five sectors, including steel.
- The Steel Ministry receives Rs 455 crore under the National Green Hydrogen Mission to run hydrogen-use pilots in steelmaking.
- Prime Minister Narendra Modi frames carbon capture as central to the next phase of the country’s steel industry transition toward Net Zero 2070.
- India’s green steel taxonomy sets a sub‑2.2 tCO2e per tonne finished‑steel threshold with a 3–5 star rating to identify lower‑emission products.
- Analysts caution that EU CBAM and shifting US tariff terms raise near‑term risks, pressing for faster hydrogen and EAF deployment and scrap‑market reforms, including relief from the 18% GST on scrap.