Assocham Urges FY27 Budget Incentives for Green Steel, Boosts 'Make in India'

• Assocham recommends FY27 Budget incentives for hydrogen-based DRI and concessional green finance to decarbonize the steel sector.
• Suggestions include promoting waste-heat recovery, renewable captive power plants, and incentivizing scrap collection to reduce import dependence.
• The industry faces challenges like high input costs, depreciating rupee, reliance on imported coking coal, and stagnant domestic iron ore production.
• Assocham calls for promoting iron ore beneficiation, removing import duty on critical raw materials, and rationalizing royalty calculations.
• The body emphasizes R&D incentives in steel recycling, alloy innovation, and process digitisation to enhance productivity and reduce specialty steel imports.

Why It Matters: Assocham seeks FY27 Budget support for green steel, addressing challenges to make India a global hub.