New Delhi: We are the champion of the commercial two-wheelers, three-wheelers, and many other areas, and we export to the world, but the market is shifting. The world is going electric – China has demonstrated it and “India has to go electric”, said Amitabh Kant, India’s G20 Sherpa.
No country in the world has grown on the back of its services sector. Growth of the manufacturing sector is critical for India’s economy to post strong growth. Two-wheelers, three-wheelers and four-wheelers will all be battery driven and we need to create a battery manufacturing environment in India, he said at the 63rd Automotive Component Manufacturers Association of India (ACMA) annual convention on Wednesday.
According to him, the long distance transportation of trucks and buses will have a huge component of green hydrogen in the long term. “We need to replace coal with green hydrogen.”
The only other country in the world which has similar climatic conditions as India is probably Saudi Arabia, but India’s conditions are top class and we can be the best entrepreneurs in the world to produce green hydrogen, he said.
“The challenge is that today green hydrogen is about USD 4.5 per kg. With the size of scale, we should be able to bring it down to USD 2.5 per kg and even USD 1 per kg by 2030,” he said.
Kant added that India would also need a technological “pole vaulting to penetrate global markets”. He said that in the immediate run, we will have to go electric in all the segments and this will also require a huge amount of going digital.
“Those who do not go electric will lose the competitive edge, will lose market share and will hugely lose out in the marketplace,” he reiterated.
On Sunday, India concluded the G20 Summit in New Delhi. In line with that, the G20 Sherpa noted that after all the negotiation of the summit on green development pact, one thing is clear that there will be a huge imperative of global climate change. The world will push us and it is necessary not merely for the world, but for ourselves to do it.
“It’s imperative for India to push for climate action and lead the initiative to retain its export markets,” he said.
Kant stated that the green development pact, part of the G20 declaration adopted by leaders, has offered a great opportunity for the Indian automotive and components sector to become the global leader in electric and sustainable mobility.
Addressing the G20 dialogue on ‘India’s role in the future of Energy’, Puri said several estimates show India will account for approximately 25% of the global energy demand between 2020 and 2024. “So, the demand is here. And Ithink the response to that demand also has to be anchored in sustainability,” he said.
The International Forum for Environment, Sustainability and Technology (iFOREST) organised the first Global Just Transition Dialogue to discuss policy and financial aspects of just and inclusive energy transition.
