Union Minister Pralhad Joshi said India aims to become a global hub for production, utilisation, and export of green energy.
India has achieved 50% of installed electricity capacity from non-fossil resources five years ahead of schedule, with current non-fossil capacity at around 250 GW.
The Green Hydrogen Programme is progressing rapidly, with policies to create a stable and rewarding investment environment.
The National Green Hydrogen Mission, launched in 2023 with ₹19,744 crore, targets production of 5 million metric tonnes by FY30.
Global hydrogen demand could rise up to 3.5 times by 2060; India’s hydrogen share in energy demand is expected to grow from 1.8% to beyond 3%, with most from green hydrogen.
The government is targeting to make India a global hub for production, utilisation, and export of green energy, Union Minister Pralhad Joshi said on Thursday.
The Minister for New and Renewable Energy made the remarks in a virtual address to the World Hydrogen India conference organised by S&P Global Commodity Insights in the national capital.
India has achieved the goal of having 50% of installed electricity capacity from non-fossil resources five years ahead of schedule, Joshi said.
"This phenomenal growth in renewables has set the stage for our next target, making India a global hub for the production, utilisation, and export of green energy," he said.
India's total non-fossil fuel installed capacity stands approximately around 250 GW, the minister said.
On green hydrogen, Joshi said the government's Green Hydrogen Programme is moving from vision to action with incredible speed. A stable, predictable, and rewarding investment environment is being created to support this vision.
In 2023, the government launched the National Green Hydrogen Mission (NGHM) with an initial outlay of ₹19,744 crore to produce 5 million metric tonnes by FY30.
Abhay Singh, Senior Analyst, Quantitative Analysis, S&P Global Commodity Insights, said, "Globally, hydrogen demand could grow up to 3.5 times current levels by 2060 in our Renaissance scenario, rising from 1.7% of final energy demand today to potentially over 7%." "India too is expected to see hydrogen's share in final energy demand grow from 1.8% today to beyond 3% in the Renaissance scenario, with nearly 80% of production potentially from green hydrogen. This evolution underscores India's balancing act, sustaining economic growth while driving decarbonisation."
