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Photo – India to oppose CBAM at World Trade Organization
India to oppose CBAM at World Trade Organization

At the same time, the country's producers consider it necessary to study the barriers to cheap imports

Photo – India became a net importer of steel in October
India became a net importer of steel in October

During the month, the country imported 570,000 tons of steel, which is 4% less compared to October 2022

Photo – CBAM implementation can increase the value of Bharat’s exports by 20-35%
CBAM implementation can increase the value of Bharat’s exports by 20-35%

A country can oppose the mechanism or work with it within the framework of its own initiatives

Photo – Bharat’s steel industry needs significant capital investment to achieve zero emissions
Bharat’s steel industry needs significant capital investment to achieve zero emissions

Existing steel and cement plants will require $627 billion of additional funds

Photo – ArcelorMittal and JSW Steel are showing interest in acquiring Vedanta’s assets
ArcelorMittal and JSW Steel are showing interest in acquiring Vedanta’s assets

Vedanta is reviewing its strategic priorities as part of its capital allocation discussions

Photo – Tata Steel Europe reduced steel sales by 4% y/y in April-September
Tata Steel Europe reduced steel sales by 4% y/y in April-September

The division's steel production decreased by 17% y/y through the maintenance of one of the blast furnaces in the Netherlands

Photo – Bharat in September increased rolled steel consumption by 18% y/y
Bharat in September increased rolled steel consumption by 18% y/y

These indicators are due to high demand from state infrastructure projects

Photo – Bharat to set carbon reduction targets for four sectors
Bharat to set carbon reduction targets for four sectors

Target indicators will also apply to the steel industry

Photo – Export of eco-friendly steel from Bharat is not possible under current CBAM – AMNS
Export of eco-friendly steel from Bharat is not possible under current CBAM – AMNS

The country's steelmakers are already working on the decarbonization of production

Photo – Bharat’s steelmakers will switch to green hydrogen by 2050 – forecast
Bharat’s steelmakers will switch to green hydrogen by 2050 – forecast

Decarbonization of the country's steel sector will take longer than planned

Photo – Bharat increased iron ore production by 13% y/y in January-August
Bharat increased iron ore production by 13% y/y in January-August

The largest volumes of raw materials were extracted by the NMDC company – 31 million tons

Photo – Steel demand in Bharat will grow by 10% in fiscal 2023/2024 – forecast
Steel demand in Bharat will grow by 10% in fiscal 2023/2024 – forecast

Growth will primarily come as infrastructure spending accelerates

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