The Union Cabinet approved the National Green Hydrogen Mission on 4th January 2023, with an outlay of ? 19,744 crore. The overarching objective of the Mission is to make India a Global Hub for the production, usage, and export of Green Hydrogen and its derivatives, by targeting the production of 5 MMT per annum of Green Hydrogen by 2030. The following components have been announced as part of the Mission:
The National Green Hydrogen Mission has an outlay of ? 600 crore for the FY 2024 – 25 under various heads. The Green Hydrogen production capacity envisaged by 2030 is likely to leverage over ?8 lakh crore in total investments in the Green Hydrogen industry. This investment is estimated to create 6,00,000 jobs by 2030.
Green Hydrogen has the potential to replace the utilization of imported fossil fuels across various sectors including fertilizer production, petroleum refining, the mobility sector, steel production, and shipping propulsion applications. The Mission is expected to reduce a cumulative ? 1 lakh crore worth of fossil fuel imports by 2030.
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