Assocham Urges FY27 Budget Incentives for Green Steel, Finance to Boost 'Make in India'

• Assocham recommends FY27 Budget incentives for hydrogen-based direct reduced iron (DRI) and concessional green finance for the steel sector's low-carbon transition.
• Suggestions include incentives for waste-heat recovery, renewable captive power plants, and strengthening domestic scrap collection/recycling infrastructure.
• The industry body highlights challenges like high input costs, depreciating rupee, reliance on imported coking coal, and stagnant iron ore production.
• Assocham calls for promoting iron ore beneficiation, removing import duty on critical raw materials, and rationalising royalty calculations.
• It also advocates for incentivising R&D in steel recycling, alloy innovation, and process digitisation to reduce import dependence and enhance productivity.

Why It Matters: Assocham urges FY27 Budget to support green steel, finance, and 'Make in India' for a sustainable, competitive steel sector.