US Tariffs May Trim 0.5 % From India’s FY26 GDP: CEA

ENA Economy 2025-09-10 18:22:09 New Delhi, Sep 10 (KNN) The Indian government is preparing to roll out a Green Steel Mission to accelerate the shift toward eco-friendly steel manufacturing. The initiative, backed by a proposed Rs 5,000 crore outlay, aims to help both primary and secondary steel producers transition toward low-carbon processes. At the heart of the mission lies a Production-Linked Incentive (PLI) scheme, designed to reward manufacturers adopting green steel technologies—such as electric arc furnaces powered by renewable energy. The mission also offers incentives for using renewable energy and includes mandates for government agencies to prioritise green steel in procurement. These measures align with Indias larger decarbonisation goals and its net-zero emissions objective by 2070, especially targeting the steel sector, which contributes roughly 10 12% of the nations total emissions. The mission also builds on earlier steps such as the December 2024 taxonomy for green steel and the release of a roadmap for greening the steel sector. However, the rollout is not without challenges. The finance ministry remains cautious, citing concerns over high costs—particularly the price of green hydrogen—and potential inflationary impacts. As a result, discussions on the incentive framework are ongoing between the Steel and Finance Ministries. In parallel, India plans to mandate the use of green-rated steel in all central government and centrally-sponsored infrastructure projects starting FY 2027 28, underlining the missions commitment to sustainable infrastructure development. (KNN Bureau) 43451 https://knnindia.co.in/news/newsdetails/economy/us-tariffs-may-trim-05-from-indias-fy26-gdp-cea 2025-09-10 18:22:09 knnindia.co.in US Tariffs May Trim 0.5 % From India’s FY26 GDP: CEA