India is planning to challenge some provisions of the European Union's Carbon Border Adjustment Mechanism (CBAM) as the government is concerned about its impact on India's steel exports, Steel Secretary Nagendra Nath Sinha said. He said some clauses of the CBAM deviate from World Trade Organization norms. The steel ministry has advised importers to look at steel products made in India to replace imports, Sinha said in an interview. The government has also set up 13 working groups to formulate a strategy for green steel production, Sinha added. The country's crude steel capacity increased to 160 mt in FY23 from 102 mt in FY2014 despite suffering through a two-year pandemic. India's vision of reaching 300 mt of crude steel capacity by 2030 from the current level seems achievable. All major integrated steelmakers are working and have announced or are considering new capacities. I am optimistic that the target will be achieved. Moreover, to promote industrial growth, the government has been continuously engaging with investors and stakeholders through its initiatives and policies and today, all the mineral rich states of Odisha, Jharkhand, Chhattisgarh and Karnataka are on the verge of witnessing significant investment in creating steel capacity in their states through setting up of industrial hubs/special economic zones/steel plants. (Subhash Narayan)

"by clicking on the title of the article, you will be redirected to the entire article"