India Launches Rs 50 Billion Scheme to Cut Steel Emissions
Steel

India Launches Rs 50 Billion Scheme to Cut Steel Emissions

India plans to roll out a Rs 50 billion ($570 million) programme to encourage steel producers to reduce emissions, a senior government official stated. The scheme will particularly target smaller firms, which contribute nearly half of the nation’s steel output, Sandeep Poundrik, Secretary of the Steel Ministry, said at the FT Energy Transition Summit in New Delhi on Wednesday.
Steel demand in India is rising due to a wave of infrastructure projects and growing housing requirements. While many small steel plants are being established because they are easier to set up, they are also highly polluting.
The initiative forms part of the government’s broader strategy to reduce the environmental impact of its hard-to-abate steel sector. Incentives under the programme will support India’s goal of achieving net zero emissions by 2070 and facilitate trade with the European Union, which penalises emission-intensive imports through its border carbon adjustment mechanism.
The programme will proportionately reward different levels of decarbonisation and will focus on secondary plants producing semi-refined, refined, or finished steel products, Poundrik added. 

India plans to roll out a Rs 50 billion ($570 million) programme to encourage steel producers to reduce emissions, a senior government official stated. The scheme will particularly target smaller firms, which contribute nearly half of the nation’s steel output, Sandeep Poundrik, Secretary of the Steel Ministry, said at the FT Energy Transition Summit in New Delhi on Wednesday.Steel demand in India is rising due to a wave of infrastructure projects and growing housing requirements. While many small steel plants are being established because they are easier to set up, they are also highly polluting.The initiative forms part of the government’s broader strategy to reduce the environmental impact of its hard-to-abate steel sector. Incentives under the programme will support India’s goal of achieving net zero emissions by 2070 and facilitate trade with the European Union, which penalises emission-intensive imports through its border carbon adjustment mechanism.The programme will proportionately reward different levels of decarbonisation and will focus on secondary plants producing semi-refined, refined, or finished steel products, Poundrik added. 

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement