The government is preparing incentives for green steel
manufacturing. Plans include soft loans, interest subventions, and a new
definition of green steel. Discussions with the finance ministry are ongoing.
Public procurement will prioritise green steel. This move responds to new
global challenges like the EU's Carbon Border Adjustment Mechanism, affecting
Indian steel exports.
New Delhi:
The government is readying a package to incentivise the adoption of green steel manufacturing in the
country, officials said.
It could be a combination of soft loans, interest subvention scheme, viability
gap funding and production-linked incentive scheme, besides a revamped
definition of 'green steel', they said.