India can become a global hub of green hydrogen as an ample availability of renewable energy power gives the country an inherent advantage, Prime Minister Narendra Modi said on Friday.
The prime minister also said that the country's clear vision is that sustainable growth is possible only with sustainable energy resources.
Addressing a post-budget webinar, 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 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 have 50 per cent of our installed energy capacity by non-fossil sources.
India has set itself some targets and we look at them as opportunities. India has walked that road with the same vision over the last few years, he said.
The prime minister said that a lot needs to be done in making more energy efficient products, including household appliances.
Energy saving and production are equally important for sustainability. We need to do a lot more to build more energy-efficient ACs, heaters, geysers and similar appliances here in India.
LED bulbs used to cost Rs 300-Rs 400. Our government increased its production, which reduced cost. We have distributed nearly 37 crore LED bulbs under UJALA, saving a lot of electricity, money for the poor and carbon emissions, Modi said.
He said energy storage is a big challenge alongside renewable energy.
We have given a big priority to storage capacity as well. In this year's budget, we have made provisions for battery swapping policy and interoperability standards, he said.
On ethanol blending, Modi said it has been prioritised in mission mode, adding that there was a need to further modernise sugar mills and distilleries.
He said technology upgradation was required in sugar mills and distilleries to produce by-products like biogas.
We have planned four pilot projects for coal gasification, and innovation is needed in this sector as well. Ethanol blending has also been promoted. We need to modernise our sugar mills and distilleries, he said.
The prime minister said India's energy demand will continuously be on the rise and the country needs to transition towards renewable energy.
We need to take clean cooking forward as well. Solar gas can be a huge market for our startups, he said.
The webinar was also attended by the ministries of external affairs, coal, power, petroleum and natural gas, environment, and new and renewable energy.