India's steel production surged to 168 million tonnes in fiscal 2026, a 10.7 percent increase. The government is drafting a new National Steel Policy to replace the outdated 2017 framework. The Green Steel Taxonomy sets emission benchmarks below 2.2 tonnes of CO₂ per tonne of steel. India faces a significant challenge because most blast furnaces have an average age of only 18 years, locking in emissions for decades. The government has allocated 20,000 crore rupees for carbon capture pilot projects across five sectors.