Government Pushes for Green Steel in Public Procurement
The government is planning to implement public procurement mandates for green steel, aiming to reduce carbon emissions in the steel industry. Green steel is produced with lower emissions compared to traditional methods. This initiative is part of the Green Steel Mission costing Rs 15,000 crore.
- Country:
- India
The government is focused on advancing the public procurement of green steel as a strategic measure to facilitate a smoother transition from traditional carbon steel, according to a senior official.
Green steel, which is manufactured with significantly reduced carbon emissions, intends to compete in the market against less environmentally-friendly steel products, said Ashwini Kumar, Economic Adviser in the Steel Ministry.
The Ministry of Steel is developing the Green Steel Mission with an estimated budget of Rs 15,000 crore to drive the industry's progress towards reducing emissions and achieving net-zero targets. The initiative will include a PLI scheme for green steel, incentives for renewable energy use, and mandates for agencies to procure green steel.
(With inputs from agencies.)
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