India's finance ministry is hesitant to provide financial support for green steel production until green hydrogen prices decrease, fearing inflation and high costs. This delay impacts India's 2070 net-zero goals and steel decarbonization efforts, despite industry requests for incentives.

• High green hydrogen costs are a key concern.
• Steel is an intermediate, cost-sensitive product.
• India aims for 'green steel' under 2.2t CO2/tonne.