India believes huge subsidies announced by some developed countries for their green hydrogen sector can distort trade and is in violation of World Trade Organization (WTO) norms, power minister R.K. Singh said.
Speaking at a press conference, Singh said that the big subsidies is a challenge for the industry in India as it aims to emerge as the most cost competitive source of green hydrogen in the world.
As one of the world’s biggest greenhouse gas emitters, India is betting on green hydrogen to help cut its emissions, and enable it to reach its target of achieving net-zero carbon emissions by 2070. His comments came a day after the Indian government approved a 174.9 billion rupee incentive plan to promote green hydrogen.
Speaking about the announcement, Singh said that the country would not impose any green hydrogen consumption obligations on the industry.
Tags: Green Hydrogen, RK Singh, subsidies, WTO
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