India Targets $3–5 Billion Green Hydrogen Exports By 2030: Report

New Delhi, Mar 11 (KNN) India is making strides in the green hydrogen sector, aiming to lead exports by 2030 as part of a broader strategy to reduce reliance on imported liquefied natural gas (LNG) and boost domestic GDP growth.

A report by Alvarez & Marsal underscores India's ambitious plans, projecting USD 3–5 billion in exports and USD 7–15 billion in import substitution within the next decade.

Green hydrogen, generated through water electrolysis using renewable energy, emits no carbon dioxide, aligning with global efforts for a low-carbon economy.

The global hydrogen market, projected to reach USD 24-36 billion by 2030, is driven by investments in low-carbon hydrogen production.

India, along with nations rich in renewable resources, stands as a future leader in green hydrogen production and export. The report advocates for India's early support in the sector, citing the potential for a larger share in the global energy trade.

“The case for India to aggressively support green hydrogen is compelling. By moving early, we can stake a claim to a larger share of the global energy trade,” the report noted.

Despite initial investments estimated at USD 4–12 billion by 2030, significantly lower than India's projected oil import bill, the economic and environmental benefits of early adoption are emphasised. Challenges remain in hydrogen transportation, necessitating technological advancements and international collaboration.

With the European Union, Japan, and South Korea as major importers due to ambitious green hydrogen consumption targets, India's proactive approach could secure its position in the emerging green energy market. The competitive production costs in countries like India, the UAE, and Saudi Arabia make them attractive suppliers to these markets.

India's strategic investments and policy support signal its intent to play a pivotal role in the global energy landscape, contributing to the fight against climate change. As India aims for leadership in green hydrogen, it signifies a significant step towards a sustainable and low-carbon future.

(KNN Bureau)