About 150 mills have stopped operations, while another 50 have reduced output as local steel prices hover near five-year lows. Almost half of India’s steel output flows from smaller units
Published by Penguin India, 'Doctor Steel,' by J.J. Irani, will be released on 23 November on SoftCover, ThePrint’s online venue to launch non-fiction books.
If the two billion metric tons of crude steel produced globally every year were green steel, it would substantially cut emissions for all those industries dependent on steel.
A report by Indian Council for Research on International Economic Relations presents policy options for India to meet growing steel demand while adopting carbon-reducing practices.
Emissions from India’s steel industry are projected to more than triple to 837 million tons over the next 30 years as demand for the alloy more than quadruples.
India currently has 977 steel plants and is one of the few brights spots for demand globally as PM Modi's govt rolls out a plan to spend about $1.5 trillion to upgrade infrastructure.
Steel is responsible for about 7% of global emissions but even today the sector is mostly shielded from having to buy carbon pollution permits in Europe.
During Modi’s visit to Israel, India and Israel agreed to enhance bilateral defence cooperation, including joint development and production of defence systems.
New Delhi remains optimistic on growth this year and next. A recent US trade deal may lift estimates, but uncertainty looms after the US Supreme Court struck down Trump’s tariffs.
COMMENTS