Key highlights of the whitepaper “Unlocking green steel demand: An assessment of India’s automotive, infrastructure and construction sectors” prepared by EY Parthenon in collaboration with WWF-India & CII-Green Business Centre are:
- India’s steel industry is at a pivotal moment, balancing rapid growth with sustainability goals.
- Steel consumption is projected to nearly triple by 2050, making green steel demand a strategic priority.
- Green steel demand in India is gaining momentum, driven by sectoral decarbonization needs, advancing technologies, and supportive policy mechanisms.
- Embracing green steel aligns with India’s climate goals and positions the country to become a global leader in sustainable industrial development.
- By FY30, demand for green steel is projected to reach 4.49 million tonnes
- Today, India’s steel consumption stands at 136 million metric tons (MMT), projected to increase to 220 MMT by FY30 and further to 390 MMT by FY50.
- This growing demand is driven by three key sectors— automotive, construction and infrastructure— which together account for over 70% of consumption and are also poised for rapid growth.
- The transition towards green steel is driven by a notable price premium due to its higher production costs and the impact of carbon pricing on traditional fossil-based steelmaking.
Access the report here
