New Delhi, Nov 4 || With hydrogen prices declining faster than anticipated, India could see hydrogen become a viable alternative to natural gas within the next five to ten years, making this route central to our decarbonisation and global competitiveness goals, a top Government official said on Tuesday.
Addressing the CII Steel Summit 2025 here, Union Steel Secretary Sandeep Poundrik said: "The DRI (Direct Reduced Iron) plus Hydrogen route offers a promising pathway for green steel production."
He highlighted that there are significant opportunities for investments in the steel industry, driven by growing needs from sectors such as defence, space, automotive and power – all of which are expanding rapidly and increasing demand for high-grade steel products.
Poundrik said that with consistent growth in consumption and capacity, along with rising opportunities from specialty steel and green steel, India is on its way to achieving the target of 500 million tonnes by 2047.