India sets target of 5 MMT annual green hydrogen production by 2030
“India is moving forward firmly for the ‘panchamrit’ and net-zero carbon emission by 2070 to usher in green industrial and economic transition”, said Union Finance Minister Nirmala Sitharaman while presenting the Union Budget in Parliament on Wednesday.
Sitharaman also announced India’s target to reach an annual production of 5 MMT by 2030. While mentioning the recently announced National Green Hydrogen Mission, she explained that it will facilitate the transition of the economy to a low carbon intensity and reduce dependence on fossil fuel imports. “It will also make country assume technology and market leadership in this sunrise sector”, she added.
The Finance Minister also proposed an allocation of Rs 35,000 crore for priority capital investments towards energy transition and net zero objectives,
