India's Ambitious Green Hydrogen Mission: Accelerating Growth and Sustainability
Key Ideas
- India aims to become a global supplier of Green Hydrogen and achieve 500GW of renewable energy capacity by 2030.
- The country's renewable energy capacity reached 203.18 GW in October 2024, a significant increase of 24.2 GW in just one year.
- Industry players are looking to the upcoming Budget 2025 for policies that support innovation, sustainability, and growth, aligning with initiatives like the National Green Hydrogen Mission.
- Experts anticipate that the budget will play a crucial role in fostering technological advancements, boosting investments in research and development, digital transformation, and advanced skill development.
The Indian government is aggressively promoting Green Hydrogen and its derivatives as part of the country's Green Hydrogen Mission to establish itself as a major global supplier. With a target to achieve 500GW of renewable energy capacity by 2030, India has already made impressive strides in its renewable energy journey, surpassing 200 GW of installed capacity. The government's emphasis on Green Hydrogen aligns with its commitment to sustainability and economic growth.
As the Budget 2025 approaches, industry players are eagerly awaiting policies that will support their efforts towards innovation and sustainability. Amit Chadha, CEO of L&T Technology Services, and other stakeholders are hopeful that the upcoming budget will introduce measures that further accelerate India's growth momentum by encouraging investments in research and development, digital transformation, and skill development.
The Production Linked Incentive (PLI) Scheme has been instrumental in boosting manufacturing capabilities and attracting investments, showcasing the government's commitment to fostering a conducive business environment. Experts believe that the budget's focus on initiatives like the National Green Hydrogen Mission will not only drive economic growth but also promote sustainability and innovation across sectors.
Vivek Mehra, Chief Sustainability Officer at Onlygood.ai, emphasized the importance of policies that empower industries to integrate sustainability practices into their operations. With India's pledge to reduce emissions intensity and create carbon sinks, the upcoming budget could pave the way for transformative changes in various industries, aligning with the country's vision for a greener and more sustainable future.
Topics
Green Hydrogen
Renewable Energy
Innovation
Investment
Manufacturing
Research And Development
Economic Growth
Digital Transformation
Budget 2025
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