Echoing optimism for sustainable industry, PM Narendra Modi declared on Wednesday that carbon capture could fuel a groundbreaking revolution in India’s steel landscape. Central to achieving net-zero by 2070, this tech marries cutting-edge environmental solutions with the sector’s expansion ambitions.
Boasting 152 million tonnes of crude steel in FY 2024-25, India ranks second worldwide, with plans to reach 300 million tonnes by 2030-31 and 500 million by 2047. Steel production’s energy hunger and coal dependency, however, fuel 10-12% of the nation’s emissions, per Steel Minister H.D. Kumaraswamy.
The response is multifaceted: ‘Green Steel Taxonomy’ for rating low-emission products; Rs 455 crore for green hydrogen in steel via the National Mission; and a hefty Rs 20,000 crore budget for CCUS pilots targeting steel among others.
CCUS technology intercepts CO2 from factory exhausts, capturing it for storage or beneficial use, thereby reducing emissions significantly. Crucially, it lets veteran plants continue producing, vital for India’s infrastructure.
Modi frames this as integral to economic vigor and global competitiveness, paving the way for ‘Viksit Bharat.’ By embracing carbon capture, the steel sector transitions from polluter to pioneer, ensuring India’s industrial narrative is one of green triumph.