New Delhi, Feb 11: Prime Minister Narendra Modi emphasized the role of carbon capture in advancing India’s steel industry amid the country’s Net Zero 2070 commitment.
He highlighted a pivotal moment for India’s iron and steel sector, which is the second-largest globally, with a target of 300 million tonnes (MT) of crude steel by FY 2030-31 and 500 MT by 2047.
The steel sector, responsible for 10-12% of greenhouse gas emissions, must transition to cleaner production methods. The introduction of a green steel taxonomy and Rs 455 crore allocated for green hydrogen initiatives signal significant steps towards low-emission steel production.
Furthermore, a Rs 20,000 crore investment in carbon capture utilization and storage technologies aims to drastically reduce emissions from steelmaking processes.
