India is rapidly emerging as a global leader in the hydrogen industry, with a focus on green hydrogen, according to a report by S&P Global. The report states that India’s potential as a low-cost hydrogen supplier depends on maintaining its early momentum, facing competition, and securing reliable buyers, reports The Economic Times.
The country is well-placed to lead the world in green hydrogen production thanks to its strong resources and infrastructure. Analysts also highlighted the importance of the National Green Hydrogen Mission in supporting cleaner energy and boosting energy independence.
The Union Cabinet approved the mission on January 4, 2023, with a budget of ₹19,744 crore. The initiative aims to make India a global hub for the production, use, and export of green hydrogen and related products. It targets 5 million metric tonnes of annual production by 2030 and aims to capture 10% of global trade.
Indian developers hope to gain a low-cost advantage, allowing them to export hydrogen to the EU, Japan, and South Korea.
On September 26, Union Road Transport and Highways Minister Nitin Gadkari launched India’s first “hydrogen highways.” These routes will have hydrogen refueling stations along major national highways to support long-distance hydrogen-powered freight transport.
The government also announced a ₹100 crore program to encourage start-ups working on hydrogen projects. Each project can receive up to ₹5 crore to develop and test new technologies for producing, storing, transporting, and using hydrogen.
