India has ambitions to become a global hub of production and export of Green Hydrogen, and is investing in research and development in this direction, PM Modi said on September 11, addressing a industry participants at a global conference.
At the International Conference on Green Hydrogen, the Prime Minister, in a video message said that the ecosystem for green jobs holds great potential, and the government is working on skill development this direction. India is also keen on international partnership for Green Hydrogen, PM added.
Petroleum and Natural Gas Minister Hardeep Puri added that India is poised to attract Rs 30 lakh crore worth of investment to meet the 2030 target of 500 GW in renewable power capacity. “Our goal of producing 5 million metric tons of green hydrogen by 2030 is a critical step in decarbonizing our economy. This will require an investment of $100 billion and the development of 125 gigawatts of new renewable energy capacity,” he said.
Pralhad Joshi, the Minister for New and Renewable Energy said India’s Green Hydrogen Mission has the potential to ‘attract ₹8 lakh crore in investments and generate 6 lakh jobs’. The mission will also significantly reduce dependence on imported natural gas and ammonia.
India’s Hydrogen demand is projected to grow significantly, poised to reach 29 MMT per annum by 2050.
Over the last decade, India’s renewable energy capacity has grown by nearly 300 percent, with solar capacity leading the way with a rapid 3000 percent growth in the same period.