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Global Association for ESG
9 Jan 2023
India has approved an incentive plan of 174.9 billion rupees ($2.11 billion) to promote green hydrogen in a bid to cut emissions and become a major exporter in the field
The move is targeted to help India achieve net zero emissions by 2070
Obligations, including mandatory targets for green hydrogen consumption, will be required of fertilizer units, refineries and gas distributors
“Our aim is to establish India as a global hub of green hydrogen.”
India has approved an incentive plan of 174.9 billion rupees ($2.11 billion) to promote green hydrogen in a bid to cut emissions and become a major exporter in the field.
The move is targeted to help India, one of the world’s biggest greenhouse gas emitters, achieve net-zero carbon emissions by 2070. Reuters reported last month about India’s plans for a green hydrogen incentive programme.
Anurag Thakur, the minister, told reporters that by 2030, the nation expects to produce 5 million tonnes of green hydrogen annually, reducing carbon emissions by nearly 50 million tonnes and saving one trillion rupees on fossil fuel imports.
India will become a major source of green hydrogen, according to Thakur. "We'll work to meet at least 10% of the demand for green hydrogen globally" (by 2030).
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