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Deep Dive: Inside India’s green hydrogen funding plan
What is Eninrac’s Overall Outlook on India’s green hydrogen funding plan
Viewpoint by Mr. Ravi Shekhar (MD, Eninrac)
“Globally, it seems that the US, EU, Gulf Nations and China are more aggressive when compared with India. The NGHM's current outlay is likely to be short by nearly 75 per cent by 2030 if India wishes to compete globally and shall struggle to match China and Gulf in terms of exports,” said Ravi Shekhar, Founder & MD, Eninrac Consulting. He added that though China has a funding allocation of $6.7 billion but their hydrogen production cost is far more competitive when compared with India.
“If we compare India’s funding with respect to the other countries or regions it is about 5X lower than the US and 20X lower than Gulf nations combined. When we see China and the Gulf dominate it is due to state-backed capital and ultra-cheap renewables,” said Shekhar.
“This gap limits India’s ability to fully capitalize on its renewable advantage and scale up green hydrogen production at globally competitive prices,” said Shekhar.
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