India approves $2.4bn incentive plan for green hydrogen industry

NEW DELHI, 05 January 2023, (TON): India approved an incentive plan of 197.4 billion rupees ($2.4 billion) to promote the green hydrogen industry in a bid to cut emissions and become a major exporter in the field.

Green hydrogen, also called renewable hydrogen, can be used as fuel. It is produced from electrolysis of water in a process powered by renewable energy, so does not generate polluting carbon emissions.

All over the world, green hydrogen is emerging as a future alternative to fossil fuels.

It can be used in industry, to run cars, and to heat and power households. Countries such as the US, Japan, Saudi Arabia, the UAE, and EU members have invested billions in strategies to develop green hydrogen projects.

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