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Green growth and Green jobs to drive India’s journey towards the target of net zero carbon emission by 2070

Union Minister for Steel and Civil Aviation, Sh. Jyotiraditya M. Scindia, today (4 March, 2024) virtually inaugurated India’s 1st Green Hydrogen Plant in Stainless Steel Sector located at Jindal Stainless Limited, Hisar. The inauguration also witnessed the presence of Secretary, Ministry of Steel Sh. Nagendra Nath Sinha, Managing Director (Jindal Stainless Limited), Sh. Abhyuday Jindal, Founder, Hygenco Sh. Amit Bansal,  and other officials of the Ministry of Steel.

Union Minister of Steel highlighted India’s commitment to a green and sustainable future, emphasizing the need for responsible economic progress in the post-COVID era. “As the world strives to recover from the pandemic’s aftermath, India is steadfast in its resolve to contribute to global environmental goals”, he added.

The Minister mentioned that India’s rich history of environmentalism, deeply embedded in traditions and practices, is now being revitalized through modern strategies. The country is making significant strides in tackling climate change with initiatives like the Panchamrit (five fold strategy to fight climate change) and Mission LiFE (a worldwide effort dedicated to supporting eco-friendly lifestyle and protecting the environment), showcasing a holistic approach to development that balances both nature and human prosperity. “As a government we are encouraging companies, citizens, and state governments to focus on “green growth” and “green jobs” to achieve the target of net zero carbon emission by 2070.”, he added.

The Minister also highlighted India’s progress in the steel sector, evolving from a net importer to a net exporter and aiming to become the world’s largest producer of crude steel. One key initiative in this journey is the National Green Hydrogen Mission (NGHM), launched last year with an outlay of around ₹20,000 crore with an aim to make India a Global Hub for production, usage and export of Green Hydrogen and its derivatives. The Mission is also supporting pilot projects in the steel sector with a budget of around ₹500 crore until FY 2029-30.

“Allocation of 11% additional outlay for infrastructure development in this year’s Interim Union Budget also reflects the importance the government attaches to sectors crucial for growth.”, the Union Minister mentioned while highlighting the benefits industry accrue from the government’s push towards sustainability solutions, including infrastructure spending.

While congratulating Hygenco and Jindal Stainless, for the commissioning of India’s first long-term off-take green hydrogen plant, the Union Minister mentioned that this innovative green hydrogen project seamlessly aligns with the government’s vision for a cleaner and more sustainable future. “The project not only aligns with the government’s vision but also creates valuable employment opportunities, showcasing the potential of responsible industrial practices.”, he added. The Minister urged other industry stakeholders to enthusiastically adopt clean technologies, actively participating in India’s transformative journey towards a greener economy and fostering a conscientious industrial landscape.

The Minister highlighted the government’s readiness to initiate robust national green policies, 13 task forces to identify action points for each aspect of green steel production, and implementation of Steel Scrap Recycling Policy for enhancing the availability of domestically generated scrap.

“The need of the hour, therefore, is for stakeholders to come together to build a globally competitive as well as sustainable steel industry.” the Minister said while emphasizing the monumental significance of energy transition in this new world order, and stating unequivocally that the next era of growth belongs to India and, within India, to the steel industry.

It will be the world’s first off-grid Green Hydrogen plant for the stainless steel industry and the world’s first Green Hydrogen plant with rooftop & floating solar. This project is also a state-of-the-art green hydrogen facility with a target to reduce carbon emissions considerably by around 2,700 Metric Tonnes per annum and 54,000 tons of CO2 emissions over next two decades.  

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