New Delhi, Aug. 13 -- Micro, small and medium enterprises (MSMEs) in India's secondary steel sector could reduce their annual electricity costs by up to 34 percent and significantly lower greenhouse gas emissions by shifting to renewable energy, according to a new report.

The secondary steel sector, which is largely driven by MSMEs, accounts for around 38-40 percent of India's total crude steel production. The sector comprises more than 1,000 fragmented units with capacities ranging from 1,000 tonnes per annum to 0.1 million tonnes per annum.

The report, titled 'Powering India's Secondary Steel Transition: The Business Case for Cluster-Based Renewable Electricity Procurement', was released on Wednesday by a consortium including the Conf...