Focus on the green shift, numerous incentives for steel companies are being developed.
Economic Times
India
29-01-2024
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As it gets ready for a green transition in steel production to address the issues of carbon taxes, particularly Europe's Carbon Border Adjustment Mechanism (CBAM), India is taking into consideration a plethora of incentives, including concessional credit and long-term loans for steel companies.
A senior government source informed ET that a comprehensive paper containing the suggestions of specialised task forces established to examine steps required to decarbonise the domestic steel industry will shortly be made available for review. "The recommendations from the 13 task forces have been released. Their suggestions will be combined into a single, comprehensive document and made available for public stakeholder engagements, the official stated. In order to discuss, deliberate, and recommend the necessary steps for the decarbonisation of the steel sector, the Ministry of Steel established 13 task forces in 2023 with representatives from the industry, academia, think tanks, scientific and technology bodies, other ministries, and other stakeholders.