NGHM has potential to attract Rs 8 lakh cr in investments: Joshi

India’s National Green Hydrogen Mission (NGHM) has the potential to attract Rs 8 lakh crore in investments, generate 6 lakh jobs and reduce reliance on natural gas and ammonia imports, leading to savings of Rs 1 lakh crore, said Union Minister for New and Renewable Energy Pralhad Joshi. Speaking at the inaugural session of the International Conference on Green Hydrogen (ICGH-2024), Joshi said, “With the National Green Hydrogen Mission and the SIGHT programme, India has already made a big foray into the Green Hydrogen sector.”

Stressing that with the policy initiatives in the Green Hydrogen sector, India is aiming to position itself as a global hub for production, utilisation and export of the green fuel, the minister said, “Products of Green Hydrogen will be in high demand throughout the next several decades, with Europe requiring 10 MMTPA by 2030, Japan 2 MMTPA and South Korea 2 MMTPA.”

Alluding to the National Green Hydrogen Mission, the minister averred that NGHM was launched with the goal of positioning India as a key player in this emerging sector, ensuring both energy self-reliance and economic growth. “As we move forward, our efforts will also contribute to reducing carbon emissions by 5 MMT by 2030, positioning India as a beacon of sustainable development on the global stage,” he said.