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Assocham urges India’s FY27 Budget to boost green steel with incentives, lower costs, and import reforms.
Assocham has urged the Indian government to include incentives for hydrogen-based steelmaking and green finance in the FY27 Budget to support the sector’s shift to low-carbon production.
The industry body recommended concessional financing, waste-heat recovery support, renewable captive power plants, and improved scrap recycling infrastructure through skilling.
Despite India being the world’s second-largest steel producer with steady growth, challenges include high input costs, a weakening rupee, reliance on imported coking coal, stagnant iron ore output, and delayed mine operations.
Assocham also called for removing import duties on key raw materials, rationalizing royalties, promoting iron ore beneficiation, and boosting R&D in recycling, alloy development, and digital processes to enhance productivity and reduce specialty steel imports.
The recommendations aim to strengthen India’s global manufacturing position under 'Make in India'.
Assocham insta al presupuesto del año fiscal 27 de la India a impulsar el acero verde con incentivos, costos más bajos y reformas de importación.