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India is stepping into a new phase of its energy journey, with green hydrogen at the center of its future plans. As the world’s third-largest energy consumer and third-largest crude oil importer, India is aiming to reduce its dependence on traditional fossil fuels and become a major player in the clean energy space.
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri announced that the country has set a target to produce 5 million metric tonnes (MMT) of green hydrogen per year by 2030.
This ambitious move is expected to help the country unlock $150 billion in import savings, as the cost of green hydrogen has already dropped from $3.50 per kilogram (kg) to $3 per kg. India is also aiming to capture 10 percent of the global hydrogen market under the leadership of Prime Minister Narendra Modi.
Public sector units are contributing to this push by planning for a production capacity of 1 MMT by 2030. Tenders for green hydrogen supply, currently at 42 kilo tonnes per annum (KTPA), are projected to rise to 170 KTPA. So far, green hydrogen projects totaling around 900 KTPA in capacity have been awarded to 19 companies.
In another update shared on social media, the minister emphasized India’s growing role in the global energy landscape. “India sits at the heart of the global energy equation as the world’s third-largest energy consumer, third-largest crude importer, and fourth-largest refiner,” Puri posted on X.
He also pointed out that the country holds 651.8 MMT of recoverable crude oil and 1,138.6 billion cubic meters (BCM) of recoverable natural gas, underlining its potential to expand energy production.
To support this energy transformation, India is investing heavily in exploration and production. Puri highlighted that Rs 1.4 lakh crore has already been invested in the upstream sector. In the current financial year alone, 578 wells have been drilled, marking the highest number by ONGC in 35 years. More than 5,000 exploratory and development wells are in progress, with a strong focus on offshore activity.
The government has also carried out major policy changes over the past decade. These include shifting from the New Exploration Licensing Policy (NELP) to the Hydrocarbon Exploration and Licensing Policy (HELP), and moving from a ‘production sharing’ to a ‘revenue sharing’ model. The launch of Open Acreage Licensing Policy (OALP) rounds has added further momentum. According to the minister, OALP Round X was the single largest bid round so far, with an area of 1.92 lakh square kilometers offered.
“India is committed to large-scale investments, fiscal incentives, and policy simplification to catalyse upstream activity,” said Puri. These efforts are part of a larger strategy to secure the nation’s energy future while leading the way in the global shift toward clean and sustainable energy sources.
(ANI Photo/Shrikant Singh)
