New Delhi, 28 September (IANS). India is emerging as a leader in the Green Hydrogen industry and the country has the ability to become low-cost hydrogen supplier. This information was given in a report.
The S&P Global report stated, “India’s ability to become low-cost hydrogen supplier, depends on maintaining its early pace against strong competitors and securing offtec agreements.”
The report said that India is in a position to lead the world in the development of the Green Hydrogen sector due to its assets base.
The report explained India’s impressive progress in developing hydrogen capabilities and the country’s leading role in the global hydrogen industry.
The Union Cabinet approved the National Green Hydrogen Mission on January 4, 2023 with a budget of Rs 19,744 crore. The initiative aims to establish India as a global center for the production, use and export of Green Hydrogen, aiming to achieve a 10 per cent stake in Rs. 5. million metric tonnes of annual production and global trade by 2030.
The report stated that Indian developers are expecting to get a low cost benefit, which may enable export to the European Union, Japan and South Korea, in addition to their geographical location.
Union Road Transport and Highways Minister Nitin Gadkari launched India’s first “hydrogen highways” on 26 September, leading to speed to the country’s green hydrogen initiatives.
The project involves setting up a hydrogen fuel station with strategic national highway corridors to support long-range hydrogen-operated freight.
The government recently announced a call of Rs 100 crore for proposals to support start-ups in hydrogen innovation.
The scheme has allocated up to Rs 5 crore per project for pilot projects in hydrogen production, storage, transport and use technologies.
-IANS
ABS/