According to a Global Energy Monitor report, India is developing more than 60% of the world's new coal-based blast furnace capacity. Together with China, the two nations account for 86% of such planned projects globally.

Currently, 319 million tons per annum of this carbon-heavy capacity is either under construction or announced, despite the steel industry already contributing 11% of global carbon dioxide emissions.

Transitioning to cleaner methods remains slow. Only 34% of global steelmaking uses electric arc furnaces, and just 2% of direct reduced iron capacity uses green hydrogen.

Although 93% of India's upcoming ironmaking relies on coal-intensive methods, only 5% of that capacity has broken ground. This low start rate leaves room for intervention to promote lower-emission technologies before these long-term fossil fuel assets are finalized.