Steel Industry's Green Shift: Budget Hopes for Eco-Friendly Futures

As India aims to lower carbon emissions, the steel industry urges the government for budgetary measures to boost the use of scrap in green steel production. Recommendations include GST changes for the metal scrap supply chain and fiscal incentives for renewable energy integration within the sector.

Amid anticipation for the Union Budget, the domestic steel industry is lobbying for government measures to boost the use of scrap in green steel production. This initiative is part of India's broader efforts to cut carbon dioxide emissions.

The Indian Steel Association (ISA) has requested measures to promote scrap usage and streamline compliance within the metal scrap supply chain. The industry is also focusing on the need for technological advancements for a gradual shift towards less carbon-intensive production methods.

Industry leaders are pressing for budget support to facilitate a transition towards renewable energy integration. They argue that clear fiscal policies will help steelmakers manage the high upfront costs of green technology adoption, thus fostering the industry's long-term sustainability goals.

(With inputs from agencies.)