India aims to become world's cheapest producer of green hydrogen by 2030: Former Niti Aayog CEO

Economic Times
Economic Times
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India aims to produce green hydrogen at USD 1 per kg by 2030, significantly reducing costs. This initiative could reshape industries and create millions of jobs.
India aims to become world's cheapest producer of green hydrogen by 2030: Former Niti Aayog CEO
A What happened
India is aiming to become the world's cheapest producer of green hydrogen, with a target price of USD 1 per kg by 2030. This goal was announced by Amitabh Kant, former CEO of Niti Aayog, during the National Green Economy Conclave. The initiative is part of the National Green Hydrogen Mission and is expected to reshape industries such as steel, fertilizers, and transportation. Kant emphasized that achieving this price point would position India as a global leader in green energy. The transition is projected to create 48 million jobs and attract USD 4 trillion in investments. Kant also highlighted the importance of integrating sustainability into India's growth model, advocating for a circular economy and green urban design. This shift is seen as a significant opportunity for India's youth and a chance to build sustainable cities.

Key insights

  • 1

    Job Creation Potential

    The green transition could create 48 million jobs in India.

  • 2

    Investment Opportunities

    The initiative is expected to attract USD 4 trillion in investments.

  • 3

    Sustainable Growth Model

    India aims to integrate sustainability across various sectors.

Takeaways

India's ambition to lead in green hydrogen production represents a transformative opportunity for economic growth and sustainability. By focusing on renewable energy and innovative solutions, India can set a global benchmark for clean manufacturing.

Topics

Business Economy Environment Sustainability Energy