The Confederation of Indian Industry (CII) has called upon the steel sector to make investments in reducing green-house gas emissions. “There is an immediate need for consensus-building among stakeholders on key policy enablers for ensuring the growth of steel industry and bringing about green steelmaking,” said Mr C.S. Verma, Chairman of CII's National Committee on Steel and Chairman of Steel Authority of India Ltd.
At a meeting of the national panel on steel, Mr Verma highlighted the need for industry to work together on key areas such as technology upgrade, environment, resrach and development, procurement of raw materials and other techno-economic parameters, CII said in a statement. Globally, the steel industry contributes around 3 to 4 per cent of the green-house gas emissions. The Indian industry generates almost two times more than the global standards, which has to be corrected, CII said. The Indian steel industry has to be geared up to make investments in this area, it said.