INDIAN STEEL AND CEMENT SECTORS NEED 47 LAKH CRORE FOR NET ZERO

A recent report by the Council on Energy, and Water (CEEW) reveals that India's domestic steel and cement industries will need an additional investment of 47 lakh crore (approximately $627 billion) to achieve net-zero carbon emissions. India ranks as the world's second-largest producer of steel and cement, both of which are known for their emission-intensive operations.

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To reach net-zero carbon emissions, the report suggests that these sectors will require an annual additional operational expenditure (OPEX) of 1 lakh crore each. Furthermore, the CEEW's analysis indicates that it is possible to reduce emissions Environment in the steel sector by 8-25% and in the cement sector by 32% without increasing prices. This reduction can be achieved through the adoption of efficient technologies, such as waste-heat recovery and energy-efficient drives and controls.

Additionally, a 33% reduction in the combined carbon emissions of both industries could be realized with only 8.5% of the total additional capital expenditure (CAPEX) and 30% of the annual OPEX increase. This reduction can be accomplished without the need for carbon capture, provided there is a sufficient supply of alternative fuels and raw materials.