Overview
- Steel Secretary Sandeep Poundrik said the proposal, under consideration as a National Mission for Sustainable Steel, totals Rs 5,000 crore.
- All steelmakers would be eligible, with 75–80% of the funds earmarked for smaller secondary producers.
- Payouts would be based on measured reductions versus a plant’s previous year emissions rather than prescribing specific technologies.
- The initiative aims to spur adoption of clean technologies and alternative materials across the sector.
- Officials expect the scheme to become operational in the next few months, as India seeks to align industry growth with its net-zero commitments.