Prime Minister Narendra Modi on Friday said that India can be a global hub of green hydrogen as an ample availability of renewable energy gives the country an inherent advantage.
He also said that it is India's clear vision that sustainable growth is possible only with sustainable energy sources.
Addressing a post-budget webinar, PM Modi said, "Ample availability of renewable energy power gives India an inherent advantage, it can be a global hub of green hydrogen."
PM Modi said India can become a global hub of green hydrogen as an ample availability of renewable energy power gives the country an inherent advantage.
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.
PM 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," he said.
"By 2030, India has set the target of extracting 50% of its energy from non-fossil fuels. It is our opportunity to shift to more sustainable practices. We need to focus on building a hydrogen ecosystem in which the private sector can play a pivotal role," PM Modi 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.
PM Modi urged households to set up solar trees to meet the increasing energy demand of India, and contribute to saving up to 15 per cent electricity for every house.
Addressing a post-budget webinar on 'Energy for Sustainable Growth' he also said that four pilot projects for coal gasification and conversion of coal into chemicals required for the industry will be set up to evolve the technical and financial viability of transitioning to renewable energy. PM Modi said, "With the coming years, India's energy demands will increase, therefore, we must transition to renewable energy."
"Every household should develop its own solar tree that can contribute to saving up to 15 per cent electricity of that house. It will not only be unique but will be environment-friendly," he added.
Further, he said that the seminar intends to focus on the implementation of the new budget schemes and to chalk out ways through which the execution that is effective and concrete can begin.
"We have to focus on the seamless implementation of the Budget to benefit the masses. These seminars are designed for industries to come up with innovative solutions that can give optimum outcomes of this year's budget," PM Modi said.
(With inputs from PTI)
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