India's Strategic Role in the Global Shift to Clean Energy
Key Ideas
- India's cost-effective green hydrogen production at $4.5 per kilogram compared to $7-7.5 per kilogram in the US highlights the country's potential in clean energy manufacturing.
- Amitabh Kant emphasizes the importance of India's size and scale in manufacturing to significantly reduce prices to $1 per kilogram by 2030, a feat only achievable by India.
- Collaboration with India is crucial for the global shift to clean energy and achieving net zero targets, as stated by Kant in an economic partnership discussion with the US.
- Kant points out the dominance of Chinese companies in the global EV and solar manufacturing markets, citing heavy state subsidies as a key factor in their success.
During a discussion on the India-USA Economic Partnership, Amitabh Kant, India's G20 Sherpa, highlighted the significant role India plays in the global manufacturing landscape, particularly in the context of clean energy. Kant pointed out that India's green hydrogen manufacturing costs are notably lower at $4.5 per kilogram compared to the US's $7-7.5 per kilogram, showcasing India's competitiveness in this sector. He stressed the importance of India's size and scale in driving down prices further to $1 per kilogram by 2030, a feat he believes only India can accomplish due to its manufacturing capabilities.
Kant emphasized the necessity of working with partners like India to achieve global success in transitioning to clean energy and meeting net zero goals. He referenced India's past successes in manufacturing, such as the procurement of LED bulbs and electric buses at competitive prices, as evidence of India's potential to lead in the clean energy revolution.
Additionally, Kant raised concerns about the dominance of Chinese companies in the global electric vehicle (EV) and solar manufacturing markets, attributing their success to heavy state subsidies. This underlined the importance of strategic economic policies and partnerships in shaping the future of clean energy manufacturing on a global scale.