Decarbonizing India's steel industry will take longer than planned, with green hydrogen becoming the primary fuel for steelmaking only by 2050, according to a research report by the Institute for Energy Economics and Financial Analysis and JMK Research.
The steel industry accounts for about 2% of India's GDP and 12% of its carbon dioxide emissions. The government has taken initiatives to decarbonize the steel sector, such as the 2019 Steel Scrap Recycling Policy and the creation of 13 working groups to develop a roadmap for green steel production.
The share of coal technologies in the Indian steel sector is likely to decrease from 92% in 2021 to 70% in 2030. Between 2030 and 2050, a significant expansion of hydrogen projects is expected across India due to rising demand for cleaner steel production methods.