In 2023, India's significant GHG emissions of 4.1 billion tonnes highlight the pressing need for sustainable practices in industries like steel production, which account for 12% of the country's emissions. The steel sector's high carbon intensity underscores the urgency to shift to green steel production methods. Green steel, made with lower carbon emissions, includes hydrogen-based Direct Reduced Iron (DRI), scrap-based Electric Arc Furnaces (EAF) powered by renewables, and carbon capture technologies. India introduced the world's first Green Steel Taxonomy in 2024, aiming to improve transparency and accountability in steel production while promoting low-carbon methods. Despite marginal cost increases, green steel adoption in infrastructure projects proves financially viable. Major industry players like Tata Steel and JSW Steel are exploring decarbonization technologies, signaling a positive shift towards green practices. Challenges such as significant investment requirements and workforce reskilling are acknowledged in the transition. The government's initiatives like the Green Steel Taxonomy, Green Public Procurement (GPP), and task forces aim to support industry decarbonization efforts. Globally, the momentum towards green steel is growing, with Europe leading the market, followed by the Asia Pacific region. India, with its strategic investments and shift towards sustainable steel production, stands poised to play a pivotal role in the green steel revolution.