New Delhi: As India works towards exporting up to 50 million tonnes of steel annually, Union Minister for New and Renewable Energy Pralhad Joshi on Friday said the industry must embrace green steel to stay competitive and comply with emerging trade measures like the European Union’s Carbon Border Adjustment Mechanism (CBAM). He underlined that green steel will be central to ensuring competitiveness in this new trade environment.
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Addressing AIIFA STEELEX-2025 and the 37th National Conference on Sustainable Steel in Mumbai, Joshi said, “With expanding FTAs and domestic reforms, we envision exporting up to 50 million tonnes of steel annually. But we must be future-ready to stay competitive.” He urged the industry to adopt circular economy models, clean technologies and scale up the use of green hydrogen to align with global decarbonisation trends.
The minister said the shift to green steel is “not just an economic objective, but a national imperative,” fully aligned with the Prime Minister’s vision of sustainable industrial growth. He stressed that reforms and falling renewable energy costs are making green steel viable and scalable, noting that green hydrogen prices could fall below US$2/kg by 2030, supported by lower solar tariffs and GST rationalisation to 5 percent on renewable energy equipment and electrolysers.
Joshi lauded Maharashtra’s initiatives, including its Green Hydrogen Policy targeting 5 lakh tonnes per annum capacity by 2030 and the Pune Hydrogen Valley Innovation Cluster. He said Kandla, Paradip and Tuticorin are being developed as national Green Hydrogen Hubs, while five pilot projects worth Rs 132 crore are underway in the steel sector. He also highlighted support measures such as the Green Hydrogen Certification Scheme, a national safety panel and a single-window portal for electrolyser manufacturing.
On the sidelines of the event, seven MoUs worth Rs 25,560 crore were signed, projected to generate 22,600 jobs and help develop Vidarbha as a steel hub. Joshi said these initiatives would strengthen India’s position in the emerging global market for green steel.
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Maharashtra Chief Minister Devendra Fadnavis said a new market for green steel has emerged worldwide and India is making strategic progress to establish dominance in it. “Achieving this goal under the leadership of the Prime Minister is a collective responsibility for all,” he said, urging industry and policymakers to work together.
