The global steel industry is experiencing a shift towards 'green' steel production, with Direct Reduced Iron (DRI) playing a pivotal role in reducing carbon emissions during steelmaking. India and Iran have emerged as leaders in DRI production, emphasizing sustainable practices and showcasing significant growth in output. On the other hand, China, despite being the top steel producer, faces challenges in DRI development due to factors like low-grade iron ore reserves and economic constraints. However, China is actively exploring hydrogen-based DRI production to align with carbon reduction goals. Companies like China Baowu Steel Group and BHP are pioneering innovative technologies to enable a low-carbon future for steelmaking. While the industry acknowledges the need for substantial investments in zero-emission steelmaking, challenges such as overcapacity and profitability hinder the transition to cleaner methods. The sector's reliance on blast furnace-based steelmaking poses a hurdle in adopting new, high-cost facilities like DRI and EAF-based routes. Despite these challenges, the steel industry is gradually moving towards decarbonization, with countries and companies investing in sustainable practices for a greener future.