Steel ministry tells Lok Sabha exports depend on global market conditions

It matters to citizens as it outlines the government's data on export trends and specific measures taken to support the steel industry in adopting green technologies to remain competitive.

Who it concerns: Indian steel exporters, the Ministry of Steel, the Ministry of New and Renewable Energy (MNRE), and the general public interested in trade policy and environmental regulations.

What the document says

• The Ministry of Steel stated that steel is a deregulated sector and exports depend on global market conditions, CBAM policies, and input costs.
• The Ministry provided data on finished steel exports to the EU for the last five financial years (2019-20 to 2023-24), noting that the UK was part of the EU until 2020-21.
• The Ministry released a report titled 'Greening the Steel Sector in India: Roadmap and Action Plan' based on recommendations from 14 Task Forces.
• The Ministry released the Taxonomy for Green Steel to define and categorize low-emission steel.
• Under the National Green Hydrogen Mission, the Ministry of Steel awarded 3 pilot projects for the use of hydrogen in the steel sector.
• The National Solar Mission promotes solar energy use to help reduce steel industry emissions.

Also in the document

• The document notes that the UK was included in EU export data up to the 2020-21 financial year.
• The response attributes the promotion of solar energy to the National Solar Mission launched by the Ministry of New and Renewable Energy in January 2010.