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AI: Union Steel Minister Jyotiraditya Scindia asks domestic industry to use AI


Union Steel Minister Jyotiraditya Scindia has asked stakeholders in the steel sector to enhance the application of Artificial Intelligence (AI) in their respective Steel Plants. He was speaking during a Chintan Shivir organised by his ministry focusing on the impacts of the Carbon Border Adjustment Mechanism (CBAM) and the pivotal role of AI.

As part of its Green Deal 2050, the European Union has proposed the implementation of CBAM for certain products – including steel and aluminum. CBAM would apply carbon emission costs on imported products equivalent to those borne under the EU system.

Commenting on its impact, Steel Secretary, Nagendra Nath Sinha said the concept of CBAM is fast evolving and emerging. According to him, it is important to understand its impact across the value chain of operations for the sector which will be severely impacted.

The steel sector needs to capitalise on the present challenge of the CBAM to ensure rejuvenation of the demand so that the Indian export economy is further strengthened, he added.

An official statement said CBAM affect exports to the European Union and also lead to realignment of value chains.

During the Chintan Shivir, long term impact of CBAM and India’s likely response to it were discussed. The potential solutions for small-medium sized enterprises (SMEs) which buy steel from traders and do not have access to emission declaration of the Integrated Steel Plants were also explored, the statement added.


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