Amitabh Kant, the CEO of the National Institution for Transforming India (NITI Aayog), has identified the lack of long-term funding and free trade as the two key challenges hindering the growth of green hydrogen in the country. Speaking at a recent event, Kant emphasized the need for urgent action to address these challenges and accelerate the adoption of green hydrogen.
Green hydrogen is a form of clean energy that can be produced using renewable sources such as wind and solar power. It has the potential to play a significant role in reducing the world’s carbon footprint and achieving the goals of the Paris Agreement on climate change.
Kant pointed out that one of the main challenges facing the development of the green hydrogen sector in India is the lack of long-term funding. He stressed the need for stable and predictable funding mechanisms to attract investment in the sector and drive innovation. This would require a coordinated effort from both the public and private sectors, he added.
The other challenge highlighted by Kant is the need for free trade. India is currently facing several trade barriers that prevent the import of equipment and technology needed for green hydrogen production. Kant emphasized the need for international cooperation and collaboration to break down these barriers and create a level playing field for all countries.
Despite these challenges, Kant expressed optimism about the future of green hydrogen in India. He noted that the government is taking several steps to promote the sector, including the development of a national hydrogen energy mission, the establishment of a hydrogen task force, and the inclusion of hydrogen in the country’s energy roadmap.
Kant also highlighted the potential of green hydrogen to create jobs and drive economic growth in India. He called on investors and entrepreneurs to explore the many opportunities in the sector and help India become a global leader in green hydrogen production.
The development of green hydrogen technology is still in its early stages, but with the right policies and investments, it has the potential to play a significant role in the transition towards a more sustainable and low-carbon future. Addressing the challenges of long-term funding and free trade will be crucial in unlocking the full potential of green hydrogen in India and around the world.