The mission will have wide ranging benefits – creation of export opportunities for green hydrogen and its derivatives; decarbonisation of industrial, mobility and energy sectors; reduction in dependence on imported fossil fuels and feedstock; development of indigenous manufacturing capabilities; creation of employment opportunities; and development of cutting-edge technologies.
India’s green hydrogen production capacity is likely to reach at least 5 mmt per annum, with an associated renewable energy capacity addition of about 125 gw. The targets by 2030 are likely to bring in over Rs. 8 lakh crore investments and create over six lakh jobs.
Nearly 50 mmt per annum of carbon dioxide emissions are expected to be averted by 2030. Under the Strategic Interventions for Green Hydrogen Transition Programme (SIGHT), two distinct financial incentive mechanisms – targeting domestic manufacturing of electrolysers and production of green hydrogen – will be provided under the mission.