The European steel sector has declared an existential crisis. In response, the EU is preparing an Action Plan to secure a competitive and decarbonised steel and metals industry in Europe . This is a document that Indian steel stakeholders would be well advised to study: what are the likely impacts on India, and what examples might India consider for its own policies?

Crisis in Europe’s Steel Industry

Germany’s Thyssenkrupp has serious profitability concerns and has announced the lay-off of 11,000 people. In Europe, ArcelorMittal has also seen profits decline, is delaying investments, and has announced lay-offs of 600 employees in France. The sector faces a triple crisis: global overcapacity driven by China, rising energy costs often exceeding EUR 100 per MWh, and the challenge of decar

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