A Greener Future: India's Vision for Green Hydrogen India's renewable energy sector has seen impressive growth in recent years. Its green hydrogen market is projected to be worth $8 billion by 2030 and $340 billion by 2050.

India has always been known for its vast landscapes, rich natural resources, and its historical reliance on fossil fuels, particularly coal and natural gas. For decades, the country's economy was fueled by these resources, propelling it to global prominence as a major exporter of energy. However, as the world deals with the escalating climate change crisis, the global energy landscape is shifting. India, once heavily dependent on fossil fuels, is now at the forefront of the renewable energy revolution.

India's renewable energy sector has seen impressive growth in recent years. Its green hydrogen market is projected to be worth $8 billion by 2030 and $340 billion by 2050. According to NITI Aayog, the think tank policy arm of the Indian government, the electrolyzer market could be worth $5 billion by 2030 and $31 billion by 2050. Policy initiatives like production subsidies, tax breaks, and the setting up of green hydrogen corridors are providing a much-needed impetus to the sector.

The transition of seasoned professionals into the green energy sector is also becoming more common, reflecting the growing recognition of its potential. For instance, when veteran real estate expert Suneet Singal moved into the green energy space, he saw an opportunity to apply his deep knowledge of investment strategies and risk analysis to a burgeoning industry with enormous growth potential. Having spent years navigating the complexities of urban and suburban development, Singal's pivot to green energy, though unconventional at first glance, exemplifies a broader trend. His experience in managing large-scale investments, evaluating risk, and maximizing returns has positioned him to leverage green energy opportunities effectively, highlighting how professionals from diverse fields are recognizing the long-term value of sustainability-driven ventures.

"Having been involved in several high-profile Green Hydrogen initiatives around the world, and having several in the works for India, the possibilities are virtually endless. India is already very savvy when it comes to renewables and existing infrastructure can be utilised and used for Green Hydrogen. They really have the potential to become world leaders in the space." Said Suneet Singal.

Green hydrogen is produced through electrolysis, a process that uses renewable electricity to split water into hydrogen and oxygen. Unlike "grey" or "blue" hydrogen, which are derived from fossil fuels, green hydrogen is entirely carbon-free. Its potential as a clean energy solution is enormous, especially for sectors that are difficult to decarbonize, such as heavy industry, transportation, and power generation.

The integration of green hydrogen into India's energy mix could revolutionize several key industries. One of the most promising aspects of green hydrogen is its potential to decarbonize industries such as steelmaking, which is one of the most carbon-intensive industries in the world. For a country like India, which is a major exporter of both steel and iron ore, this shift represents an enormous economic and environmental opportunity.

India's government has said it wants to be a leading producer and supplier of green hydrogen globally and is investing accordingly. It has already doubled its national Green Hydrogen mission in 2024 and has signed its first Green Hydrogen export agreement with Japan, paving the way for long-term collaboration and cementing India's place as a global player in the Green Hydrogen revolution.

The global demand for green hydrogen is expected to surge in the coming years. According to the International Energy Agency (IEA), global hydrogen demand could increase sixfold by 2050 if governments implement policies in line with net-zero emission targets. This presents a massive opportunity for countries like India to become major players in the global energy market, especially as the world moves away from fossil fuels. In fact, the global green hydrogen market is expected to grow at a compound annual growth rate (CAGR) of 54 per cent from 2020 to 2027, highlighting the explosive potential of this sector.

While the potential of green hydrogen is vast, there are still challenges to overcome. The current cost of green hydrogen production is higher than that of hydrogen produced from fossil fuels, making it less competitive in the market. However, as renewable energy costs continue to fall and governments and industries invest in scaling up hydrogen production, these costs are expected to decrease significantly.

Furthermore, advancements in technology, including more efficient electrolyzers and improved methods of hydrogen storage and transport, will be key to realizing the full potential of green hydrogen. Governments and private companies alike are working on these challenges, with significant research and development efforts underway to drive down costs and improve efficiency. In the long term, these investments will be critical to making green hydrogen a mainstream energy source.

As the world moves toward a low-carbon future, green hydrogen presents a unique opportunity for India to transform its economy, reduce emissions, and secure its place as a renewable energy superpower. The environmental benefits of green hydrogen are clear, but the economic opportunities are equally compelling. With the right investments and policy frameworks, India could become a major exporter of green hydrogen, tapping into a growing global market and creating thousands of jobs in the process. The possibilities are endless, and the rewards—both for the planet and for investors—could be enormous.

"We are seeing a truly global effort in the fight against climate change, and it's great to see so many countries working together on Green Hydrogen initiatives. If we are to meet our net zero targets, Green hydrogen will be an essential player. With investors beginning to understand the potential of Green Hydrogen, the opportunity to help the environment whilst simultaneously getting on board with a lucrative investment opportunity is surely one investors won't miss out on." Concluded Singal.

As more countries embrace the hydrogen revolution, the global energy landscape will shift towards cleaner, more sustainable solutions. Investors are increasingly recognizing the potential of green hydrogen as an asset class that can generate long-term returns while also contributing to a more sustainable planet. For investors, the green hydrogen sector offers a compelling mix of innovation, environmental impact, and financial opportunity. The sector is still in its early stages, which means there is significant growth potential as the technology matures and becomes more widely adopted. Green hydrogen is not just an energy source; it's a pathway to a sustainable future. With visionary leadership, strategic investments, and a commitment to innovation, India can harness this powerful technology to build a cleaner, more prosperous world for generations to come.