India targets 604 million tons of steel capacity by 2047, eyes lower emissions
India has released a draft policy aiming to nearly triple its steel production capacity to 604 million tons by 2047. The plan includes significant targets for reducing carbon emissions and securing raw material supplies through global outreach.
Why it matters
This policy is critical for India's industrial growth and its long-term commitment to achieving net-zero emissions by 2070.
NEW DELHI: India has set an ambitious target to nearly triple its steelmaking capacity to 604 million metric tons by 2047 from around 220 million tons at present, while planning to reduce carbon emissions and secure long-term supplies of key raw materials, according to a draft steel policy released for public consultation.Reuters reported last week, citing the draft document, that the proposed policy outlines measures to cut emissions from steel production and strengthen access to iron ore and coking coal as India prepares for rising demand.
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