Green Steel: Key to India's Low-Carbon Future

24 Jul 2024 CW Team

"As the world moves towards a low-carbon economy, green steel is poised to play a pivotal role in reshaping the future of the steel industry," the Survey stated, which was tabled in Parliament.

India's steel sector accounts for 12 percent of the nation's greenhouse gas emissions, with an emission intensity of 2.5 tonnes of CO2 per tonne of crude steel, compared to the global average of 1.9 tonnes. This high emission intensity underscores the need for green steel initiatives.

The Survey also noted that India remained a net importer of steel during the first three quarters of FY24 due to price differentials between international and domestic prices of finished steel. Low international prices reduced profit margins for exports and made imports more affordable, affecting the trade balance in the steel sector.

Additionally, the import dependence on coking coal, an essential raw material for steel production, increased from 56.1 MT in FY23 to 58.1 MT in FY24.

The Survey highlighted that many technologies required for achieving global net zero are commercially unavailable, such as hydrogen-fuelled steel, steel and aluminium production with Carbon Capture, Utilization, and Storage (CCUS).

"There is a need to enhance international cooperation in R&D, especially in the domains of distributed renewable energy, offshore wind, geothermal, tidal energy, biofuels, compressed biogas, green hydrogen, energy storage, electrolysers, and nuclear power, including small modular reactors (SMRs)," the Survey recommended.

The push for green steel and enhanced R&D cooperation is crucial for India's transition to a low-carbon economy and reducing its reliance on imported materials and technologies.

Green steel will play an important role in reshaping the future of the steel industry as the world moves towards a low-carbon economy, according to the Economic Survey for 2023-24. The concept of green steel promotes the production of steel using green energy sources and minimizing the usage of fossil fuels. As the world moves towards a low-carbon economy, green steel is poised to play a pivotal role in reshaping the future of the steel industry, the Survey stated, which was tabled in Parliament. India's steel sector accounts for 12 percent of the nation's greenhouse gas emissions, with an emission intensity of 2.5 tonnes of CO2 per tonne of crude steel, compared to the global average of 1.9 tonnes. This high emission intensity underscores the need for green steel initiatives. The Survey also noted that India remained a net importer of steel during the first three quarters of FY24 due to price differentials between international and domestic prices of finished steel. Low international prices reduced profit margins for exports and made imports more affordable, affecting the trade balance in the steel sector. Additionally, the import dependence on coking coal, an essential raw material for steel production, increased from 56.1 MT in FY23 to 58.1 MT in FY24. The Survey highlighted that many technologies required for achieving global net zero are commercially unavailable, such as hydrogen-fuelled steel, steel and aluminium production with Carbon Capture, Utilization, and Storage (CCUS). There is a need to enhance international cooperation in R&D, especially in the domains of distributed renewable energy, offshore wind, geothermal, tidal energy, biofuels, compressed biogas, green hydrogen, energy storage, electrolysers, and nuclear power, including small modular reactors (SMRs), the Survey recommended. The push for green steel and enhanced R&D cooperation is crucial for India's transition to a low-carbon economy and reducing its reliance on imported materials and technologies.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Equipment

10 Mar 2026

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

Equipment

10 Mar 2026

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..