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The United States and Europe are going full throttle with their aim to set up a green hydrogen industry and attract investments in the hydrogen value chain. The US through its
Inflation Reduction Act and Europe through the Europe Hydrogen Bank are taking steps to move in that direction. But, the financial incentives offered by these nations is creating bumps for India’s nascent green hydrogen market which several domestic companies have already flagged in front of relevant authorities too.  Domestic companies stand at risk of losing out to competition from both the US and Europe as these schemes bring costs to low levels. According to an expert, in the present scenario, up to 15 per cent of the green hydrogen manufacturing might shift out of India as a result of global incentives offered in the US and Europe. Almost all Indian companies have flagged this issue. Exports told ETEnergyWorld that few companies with big players have even started to look beyond India for setting up their plants. Technology suppliers based in Japan, US, Europe and Australia are also preferring to set up these plants in Europe and the US rather than in India. Read the full story |
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