While the global steel sector is progressing in this initiative, there is still a lot more to cover to halve CO2 emissions by 2030. As per an estimate, global steel industries could potentially reduce CO2 emissions between 7-10% in 2030 and 30-39% in 2050, when compared to the baseline scenario.

In a latest survey conducted, 60 steel producers were analyzed who are responsible for the production of 60% of global steel, and 65% of global CO2 emissions. The survey shows that out of them 26 companies have one or more targets to reduce their carbon footprints.

However, only 8 companies can show a proper timeline and the availability of resources to apply the necessary adoptions. And 12 companies do not have any proper information on how they are going to make it. This shows that most of the companies have this shift in mind, but they are not emphasizing taking action. This moves the trajectory further away from the GHG emission reduction targets.

Three key supply-side adoptions needed are:

• Stop further investments in standard blast furnaces, and encourage furnaces built with deep emission reduction
• Implement the use of reduction technologies for primary steel production
• Enhance the recycling process of scrap steel

The global decarbonization scenario of the steel sector needs to be more mindful in taking action. Industries should put more emphasis on creating roadmaps to achieve the GHG emission reduction targets.

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 The Battery Ecosystem

 India is doing good in the manufacturing of batteries for EVs, but still needs to contribute in the development of this crucial area. Batteries are the backbone of this shift towards eco-friendly transportation, and are also an inevitable part of the EVs. Without efficient batteries EV ecosystem in India cannot survive or further grow.

Hence, India emphasizes on these areas:

 Indigenous Battery Manufacturing

 One of the core factors in contributing to the efficiency of Battery Ecosystem, is the domestic manufacturing approach. In India, there are more indigenous manufacturing facilities being established, thereby reducing the dependency on imports, making EVs more affordable.

 Lithium-ion Dominance

 Lithium-ion batteries have high energy density and efficiency. And this is the reason they have become the cornerstone of the EV ecosystem. Hence, India is also boosting its investments and doing active collaborations to enhance lithium-ion battery manufacturing capabilities.

 Government policies driving change

 The Indian government is mindful towards the growth of the electronic vehicles ecosystem, and hence laid out a series of policies that are supportive towards this shift. These are:

 FAME Scheme

 FAME stands for Faster Adoption and Manufacturing of Hybrid and Electric Vehicles. This scheme is a flagship one launched by the government which provides financial support to the manufacturers as well as the consumers to promote the manufacture and use of Electric Vehicles.

 NEMMP

 This plan is a comprehensive outline of the roadmap with targets for achieving a widespread adoption of electric vehicles in India. The plan includes targets for EV sales, charging infrastructure development (on a larger scale in various states, and on a small scale in various cities and towns), and general ongoing research and development initiatives to make the ecosystem and the EVs more efficiency.

 GST reduction on EVs and components

 With this policy the government aims to make the Evs more accessible, through reduced GSt on the actual products and other components. This is to make the electric vehicles more competitive in the market.

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As per the Indian Motor Vehicle laws, private vehicles are deemed safe for a period of 15 years, whereas commercial vehicles get 20 years of ownership. After that they start to pollute nature, and thus need to be scrapped. The policy states that from June 1 2024, it will be mandatory to scrap the vehicles that have crossed 15 years of ownership.

How can you re-register your car?

If you are willing to re-register your vehicle so that it need not be scrapped, here’s the way. You will have to run your vehicle, whether it is commercial or private through government registered Automated Testing Stations (ATS). These ATS could be found either on a state, district, or RTO level.After the test, if your vehicle is eligible you will get a Fitness certificate. This certificate will be then required at the time of re-registering your vehicles.

The Indian automobile sector has been through tough times, since 2019, The pandemic further made the situations worse, but post diwali in 2020 the situations have got better, but not to an extent where there is no need to worry. Then the scrappage policy made in 2021, is said to benefit the struggling automobile sector in India.With the scrappage policy, the old vehicles that have more than 20 and 15 years of ownership, will be replaced by new vehicles, And this will create a demand in the sector for new vehicles.

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