: India can be a global hub of green hydrogen: PM #finance #StockMarketNEWS #Business Modi says enduring growth possible only with sustainable energy resources New Delhi: India can become a global

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India can be a global hub of green hydrogen: PM #finance #StockMarketNEWS #Business
Modi says enduring growth possible only with sustainable energy resources

New Delhi: India can become a global hub of green hydrogen as an ample availability of renewable energy gives the country an inherent advantage, Prime Minister Narendra Modi said on Friday.

PM also said that the country’s clear vision is that sustainable growth is possible only with sustainable energy resources.

Addressing a post-budget webinar on ‘Energy for Sustainable Growth’, Modi said, “Ample availability of renewable energy power gives India an inherent advantage, it can be a global hub of green hydrogen. �?

Noting that the hydrogen ecosystem is interconnected with fertilisers, refineries and the transport sector, he called for innovation by the private sector in the field.

“Hydrogen ecosystem is interconnected with fertilisers, refineries, and the transport sector. It is a field that the private sector must innovate in to fully utilise India’s potential. I promise the private sector that the government is with you in your efforts,�? he said.

Maintaining that sustainable growth is only possible with sustainable energy, he said, “Energy and sustainable growth are inspired from the country’s traditional practices and are a path for our future needs and aspirations. �?

Modi said he had encouraged sustainable lifestyle at the COP 26 summit in Glasgow last year along with the promise to become a net zero country by 2070.

“In Glasgow, we promised to become a net zero country by 2070. I also encouraged sustainable lifestyle -the LIFE Mission Lifestyle for Environment. By 2030, we aim to achieve 500-gigawatt non-fossil energy capacity and achieve 50 per cent of our installed energy capacity by non-fossil sources,�? he said.

“India is providing leadership in global collaborations like the International Solar Alliance. India has set itself some targets and we look at them as opportunities. Whatever targets India has set for itself, I do not see them as a challenge but as an opportunity. India is moving with this vision in the last few years and the same has been taken forward at policy level in this year’s budget,�? he said.

The budget has announced Rs 19,500 crore for high-efficiency solar module manufacturing which will help in making

India a global hub for manufacturing and R&D of solar modules and related products.

PM said that a lot needs to be done in making more energy efficient products, including household appliances.

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