India Targets $5 Billion Green Hydrogen Exports - News

According to a report by Alvarez & Marsal, India aims to lead the green hydrogen market by setting sights on US$ 3-5 billion in export revenue and US$ 7-15 billion in import substitution by 2030. 

This strategy aligns with India’s goal to boost domestic GDP and decrease its reliance on imported liquefied natural gas. Green hydrogen is produced through water electrolysis using renewable energy. Therefore, it does not emit carbon dioxide, which in turn supports the transition to a low-carbon economy. 

The global hydrogen market is forecasted to reach US$ 24-36 billion by 2030, propelled by investments in low-carbon hydrogen production. India is positioned to become a major green hydrogen exporter and producer, along with Chile, Australia, Argentina, and the Gulf States.

With its ambitious drive to become a leader in green hydrogen, India is not just striving for economic growth but also playing a key part in tackling climate change, therefore, contributing to a sustainable and low-carbon future.