The Indian government must invest between Rs 8 and 9 trillion (about Rs 8 lakh crore and Rs 9 lakh crore) to fully implement the National Green Hydrogen Mission and produce the 5 MMT of green hydrogen that is the goal. "Additional investments will be required to ramp up manufacturing even more for export. Estimated investments in electrolysers would also be susceptible to changes in commodity prices, "According to a report by the research and rating agency, the mission's anticipated investments will create the right conditions for a 3–8% reduction in
fossil fuel imports by 2030. In order to lessen its reliance on fossil fuels and take advantage of the rising demand for green hydrogen around the world, the government has established the Green Hydrogen Mission, and the Union Cabinet has approved an initial budget of Rs 19,744 crore. Guidelines have been developed by the Ministry of New and Renewable Energy (MNRE) for the National Green Hydrogen Mission in January 2023. Phased development has been suggested due to the sector's infancy.
The governance structure was also designed with the participation of multiple ministries in mind for efficient project execution. By 2030, India's total hydrogen generation is anticipated to contain 50% green hydrogen.
A significant deepening of the economy's decarbonization, the Mission also plans penetration throughout all potential sectors in its second phase, including rail, aviation, etc. To start the process and provide this developing industry the vital boost, the government must regularly intervene, according to ICRA. The goal of reducing greenhouse gas emissions by 50 MMT by 2030 is estimated to make up 5% of the 1 BT emission reduction target set at COP26 as part of the Panchamrit plan, a five-pronged approach to combating climate change.
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