India's Response to Global Green Hydrogen Trade Restrictions
Key Ideas
- India plans to retaliate with barriers in green hydrogen trade against nations imposing restrictions, aiming to cut emissions and achieve net-zero carbon emissions by 2070.
- Discussions with Germany regarding restrictive conditions in hydrogen purchase tenders highlight the importance of fair trade practices in the green hydrogen sector.
- Indian companies are set to manufacture 3.5 million tonnes of green hydrogen, supported by a substantial incentive plan and a target to produce 5 million tonnes by 2030.
- Concerns over distorting trade due to subsidies in developed countries emphasize the necessity for adherence to World Trade Organization norms in the green hydrogen industry.
India, a major emitter of greenhouse gases, is focusing on green hydrogen to reduce emissions and achieve net-zero carbon emissions by 2070. Responding to global trade restrictions on green hydrogen, India plans to reciprocate by imposing barriers to protect its market. Discussions with Germany over restrictive conditions in hydrogen purchase tenders underscore the need for fair trade practices. Indian companies have committed to manufacturing 3.5 million tonnes of green hydrogen, supported by a significant incentive plan. Prime Minister Modi has set ambitious targets, aiming to produce 5 million tonnes of green hydrogen by 2030. Concerns have been raised about the potential trade distortion caused by subsidies in developed countries' green hydrogen sectors, with calls for adherence to World Trade Organization norms for fair competition.