THE STEEL industry contributes around 2 per cent to India’s gdp (gross domestic product) and will act as a foundation for the country to meet its ambition to double its gdp and per capita income to US $6.69 trillion and $4,418, respectively, by 2030. The National Steel Policy, 2017, aims to provide this foundation by increasing India’s steel production capacity from 122 million tonnes (MT) in 2015 to 300 MT by 2030. The urgency to address global excess capacity and cut carbon emissions is driving a shift in how industries operate. The steel industry, which accounts for approximately 8 per cent of global emissions, is no exception.
As India adds new steel production capacity in the coming years to meet growing domestic demand, it is uniquely positioned to embrace sustainable steel production. Aligning with global sustainability goals will offer dual advantages: reducing environmental impact while boosting economic viability.
The role of the circular economy and the use of ferrous scrap offer a pathway to emission reductions while supporting economically viable steel production practices. Every tonne of scrap used in steel production saves 1.1 tonnes of iron ore, 630 kg of coking coal and 55 kg of limestone. It reduces water usage by 40 per cent and greenhouse gas emissions by 58 per cent. Energy savings are also notable, with a reduction from 14 megajoules (MJ) per kg in traditional methods to less than 11 MJ per kg via the electricarc or induction furnace routes.
Considering the positive impacts of steel scrap, India rolled out the Steel Scrap Recycling Policy in 2019. It is built on the premise that scrap steel, once viewed as waste, is a resource that can reduce the industry’s environmental footprint.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
On shaky ground
Despite reporting net gains in green cover, the latest forest survey shows degradation of natural forests, particularly in ecologically sensitive hotspots
Burden of proof
The government's drive for e-KYC verification to ensure rightful targeting of beneficiaries has proved exclusionary for many
Rupee slide impacts agricultural trade
THE UNION Cabinet on January 1, 2025, approved the extension of a subsidy package of ₹3,500 per tonne on di-ammonium phosphate (DAP) for companies.
THE 500 GW SWITCH OVER
Coal is the king of energy at present. India needs to dislodge it with clean energy for an equitable green transition
MANIFESTING 500 GW
Ensure that renewable energy is available round the clock.Establish a viable market and reward those who take lead
Lifting a curse
How Gangabai Rajput helped her water-scarce village in Madhya Pradesh let go of superstition and revive an ancient waterbody
HOLD THEM SACRED
The Supreme Court has recommended that the Union government create a comprehensive policy for the governance and management of sacred groves across the country
REPORT CARD 2024
Coal is still the king in terms of electricity generation. But new renewables, mainly solar power, have shown an impressive growth
'India a laboratory for seismologists'
India is no stranger to earthquakes. In recent memory, Latur and Bhuj districts in Maharashtra and Gujarat witnessed devastating tremors in 2003 and 2001 respectively. Such quakes leave clues that can aid preparations for future events, say seismologists KUSALA RAJENDRAN, professor, Indian Institute of Science, and CP RAJENDRAN, adjunct professor, National Institute of Advanced Studies. The Rumbling Earth-The Story of Indian Earthquakes, captures their work on historical as well as recent quakes. In an interview with ROHINI KRISHNAMURTHY, they discuss the science of earthquakes, why the Himalayas are due for a huge event and why prediction remains a challenge. Excerpts:
Capturing Siang
As India pushes for a mega-dam on the Siang river to counter China's upstream projects, the Adi tribal community of Arunachal Pradesh fears losing ancestral land
