India has an ambitious target to double the steel production capacity by 2030 from current levels. While the steel industry gears up for this expansion, concerns of higher carbon emissions loom large amid India lacking a distinct roadmap for decarbonization and its carbon neutrality target set as far ahead as 2070. At the same time, Europe is gearing up to implement the Carbon Border Adjustment Mechanism (CBAM), which is expected to affect the sources and prices of steel imports.

How is Indian steel industry going to be impacted by CBAM and how is India faring in its decarbonization journey? S&P Global Commodity Insights Senior Editor covering the Asia ferrous metals market, Rituparna Nath spoke with Rohan Somwanshi, Managing Editor for Asia Metals News, Agamoni Ghosh, Managing Editor of the Global Compliance Carbon markets and Paul Bartholomew, Senior Metals Analyst to discuss.

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Decarbonization efforts in India: how ready is the steel industry?