The Indian authorities should step up its efforts and prolong coverage help to spice up analysis and improvement (R&D) actions, spend money on hydrogen manufacturing infrastructure, and help thorium-based molten salt reactors (MSR) improvement, to attain Viksit Bharat 2047 imaginative and prescient, an business veteran mentioned.
“To attain the imaginative and prescient of Viksit Bharat 2047, India should spend money on inexperienced hydrogen manufacturing infrastructure. This contains scaling up renewable vitality sources for electrolysis, growing storage and distribution networks, and fostering public-private partnerships to drive innovation and price discount,” Professor Ganapati Myneni, Member of the Board of Administrators, Worldwide Symposium on Hydrogen in Matter (ISOHIM), and Director, India Nuclear Vitality Partnership, advised ET.
Myneni additionally mentioned that the federal government ought to make investments aggressively in in R&D to enhance hydrogen applied sciences and scale back prices, and permit appropriate insurance policies and incentives to draw investments and foster collaboration between private and non-private sectors.
Final yr, India unveiled a goal of vitality independence by 2047 and a net-zero by 2070.
Inexperienced hydrogen, in keeping with the Ministry of New and Renewable Vitality, is predicted to play a “substantial position” in attaining the Centre’s bold goal.
By the method of electrolysis, inexperienced hydrogen is derived by splitting water into hydrogen and oxygen utilizing electrical energy generated from renewable sources like photo voltaic, wind, or hydropower. The method finally produces a clear and emission-free gas that has a possible to exchange fossil fuels and scale back carbon emissions.
The coverage initiatives, he mentioned, wouldn’t solely improve India’s vitality safety but additionally contribute to world efforts in decreasing carbon emissions, positioning India as a pacesetter in sustainable vitality applied sciences.
India, in keeping with him, holds the biggest thorium reserves globally, making it uniquely positioned to guide in thorium-based molten salt reactor (MSR) expertise. “The federal government ought to prioritise funding and coverage help for R&D on this space to attain vitality independence and turn into a world expertise supplier.”
Currently, India is actively pursuing hydrogen, as a part of its vitality transition technique, and in 2021, launched the Nationwide Hydrogen Mission with the intention to place itself as a world hub for hydrogen manufacturing and export.
Presently, Prime Minister Narendra Modi-led authorities is focussing on growing inexperienced hydrogen manufacturing capabilities utilizing its plentiful renewable vitality assets.
Within the Union Price range 2024-25, the Centre has elevated the financial allocation for the Nationwide Inexperienced Hydrogen Mission to INR 600 crore.
The elevated allocation for the Nationwide Inexperienced Hydrogen Mission, Myneni mentioned, displays the federal government’s dedication to transitioning to a sustainable vitality future, and added that the funding would speed up the rollout of hydrogen fuel-centric initiatives and infrastructure, appeal to investments, improve R&D and foster innovation.
“By strategically investing in hydrogen, India positions itself as a pacesetter within the world vitality transition, aligning with its broader imaginative and prescient of attaining a developed nation standing by 2047.”
India goals to turn into a world hub for manufacturing, utilization and export of inexperienced hydrogen and its derivatives, contributing to India’s purpose to turn into Aatmanirbhar (self-reliant) by means of clear vitality, and assume expertise and market management within the nascent sector.
