“Forging the Future: Green Steel for a Greener India.”

India’s Green Steel Demand to Hit 179 MT by 2050, Driven by Sustainability Push: EY-Parthenon Report.

India’s demand for green steel is projected to soar to 179 million tonnes (MT) by FY2050, led by the automotive, infrastructure, and construction sectors, according to a new EY-Parthenon report supported by WWF-India and the India Green Steel Coalition. The report forecasts demand to rise from a negligible base to 4.49 MT by FY30, growing to 73.44 MT by FY40. While current green steel adoption is low, carbon pricing, declining green hydrogen costs, and international regulations like the EU’s CBAM are accelerating the transition. Without decarbonisation, Indian steel exporters risk ₹2.19 lakh crore in CBAM taxes by 2030. Currently, the green steel premium raises costs marginally—4.1% in auto, 3.7% in construction, and 5.2% in infrastructure, but these costs are expected to drop below 1% by 2035–2040. With 136 MT current steel consumption, India’s shift to green steel is becoming a strategic necessity for global competitiveness.