Topic: steel

The event will be attended by key figures including Bhupathi Raju Srinivasa Varma, Minister of State for Steel and Heavy Industries, along with representatives from various ministries, steel industry stakeholders, think tanks, academia, and foreign missions.

Under the National Green Hydrogen Mission, the government has approved three pilot projects.

The minister urged the industry leaders to focus on economies of scale through decarbonisation to get green steel.

11 of 15 major river basins in India to experience water stress by 2025. India’s major power grids depend on 14 major river basins, all of which are under ‘high water stress’.

The conference agenda is focused on capital goods, which are expected to play a pivotal role in the growth of the steel industry in India.

During April-July, China was the second-biggest steel exporter to India, after South Korea, selling 0.6 million metric tons, up 62% from the same period a year earlier.

Green steel is gaining momentum as steel companies try and reduce their carbon footprint, but the transition is too costly.

The probe by India was initiated based on a written application by American Precoat Speciality Pvt. Ltd., led by its promoter and Chief Technical Architect Dr. Shubh Gautam.

Demand for steel is expected to surge 17% to 110 mn tonnes this financial year due to rising power consumption & mining activity, and higher tractor & passenger vehicles sales.

China is pushing for steel output to drop from a record of more than 1 billion tons. But moves to squeeze steelmakers have fired up prices & policymakers are worried about inflation.