Davos [Switzerland], January 17 : India, with a large population base, has its inherent advantages when it comes to green hydrogen, said Union Petroleum Minister Hardeep Puri, asserting that there will be a large energy demand as the country transitions to greener sources of energy.
"Green Hydrogen is the fuel of the future. I think the world focuses on Green Hydrogen as the fuel of the future. India has some inherent advantages because we have a large consuming population, there will be a large demand for energy and as we transition to greener energy, Green Hydrogen will arrive on our scene sooner than later," he told reporters on the sidelines of the ongoing World Economic Forum in Davos, Switzerland.
India committed to an ambitious five-part "Panchamrit" pledge at COP26 held in 2021. They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, to reducing emissions by 1 billion tonnes by 2030.
India also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070.
The Union Cabinet in early January 2023 approved the National Green Hydrogen Mission, aiming to make India a global hub for such technologies' production, utilisation, and export. India meets a sizable portion of its energy needs through imports, and this green hydrogen mission is seen as an avenue to reduce the dependence on imported fuel.
India, the world's third-biggest oil importer and consumer, is dependent on crude oil from various sources in the global market to meet its domestic demand.
The setting up of new renewable energy projects will in the long run help save India's exchequer, besides making the country self-reliant in energy.
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