India's Green Steel Revolution: Projected Surge by 2030

The demand for green steel in India is poised to reach significant heights, hitting 4.49 MnT by 2030. This growth is largely attributed to the construction, infrastructure, and automotive sectors, driven by sustainable practices and policies. Green steel production relies on low carbon processes, such as hydrogen-based technologies.

India's green steel market is set for remarkable growth, with an expected demand of 4.49 million tonnes by 2030, as reported by Ernst & Young (EY)-Parthenon.

This surge is propelled by advancements in construction, infrastructure, and automotive sectors, aligning with India's National Steel Policy targets of a 300 million-tonne annual capacity.

The transition to green steel involves adopting hydrogen-based Direct Reduced Iron technology and other sustainable methods, despite a current cost premium driven by carbon pricing pressures.

(With inputs from agencies.)