Post Budget 2023 Quote: Mr. Shalin Sheth, Founder, Managing Director, Advait Infratech Limited

“The Finance Minister has provided a shot in the arm for Green Hydrogen initiatives by announcing an outlay of INR 19744 crores for the Green Hydrogen Mission. Green Hydrogen is critical for achieving low-emission targets and meeting India’s sustainable development goals. Its incorporation into the fuel mix will provide dependable power supplies that will augment energy security across India.

Of this outlay, approximately INR 17490 crores will be used to incentivise the production of green hydrogen and the manufacturing of electrolyzers. The Green Hydrogen Mission plans to create a green hydrogen production capacity of around 5 million tonnes per annum with an addition in renewable energy capacity of around 125 gigawatts by 2030. The budget focuses on infrastructure with a planned outlay of over INR 10 lakh crores. This transition to clean energy will serve as an impetus for India to reap significant economic potential and lead on the global front, given its favorable geography and agreeable production conditions.

It is great news for businesses like us who are focused on telecom infrastructure and building green hydrogen integrators. We are very pleased with the development as it is forward-looking and should set the ball rolling for a more resilient and sustainable future. The budget would undoubtedly hasten India’s transition to clean energy and zero carbon emission target by 2070 which is already afoot and well ahead by nine years of its COP 21-Paris Summit targets. These measures are clearly in the right direction.”

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