The Indian government’s ambitious Rs 8,500 crore capital subsidy scheme could be a game-changer in India’s efforts to convert coal into more valuable chemicals such as hydrogen and methane, ratings agency ICRA said.
The scheme, announced a month ago, could help India reduce dependence of imported natural gas for producing hydrogen, and downstream chemicals such as urea, ammonia and methanol. It is believed that India spent around $27 billion on the import natural gas and downstream chemicals in the last financial year.
