Green hydrogen consumption to be escalated from 2040: Deloitte India
India must transition from internal combustion engines to alternative fuels like CNG, LPG, biofuel, green hydrogen, and EVs to achieve green mobility, according to Deloitte’s “Fuels of the Future” report. Green hydrogen consumption will surge in the 2040s, reducing import dependence. India imported 232.5 million metric tonnes of crude oil in FY 2023-24, highlighting the need for self-sufficiency. Deloitte’s Atul Jairaj emphasized the importance of producing in-house fuels to reduce imports and achieve sustainability targets. The report was unveiled at the ETAutoTech Summit 2024.
As India shifts towards green mobility, non-fossil fuel vehicles have become essential. A transition from internal combustion engine (ICE) vehicles to alternatives like Natural Gas (CNG), Liquified Petroleum Gas (LPG), Biofuel, Green Hydrogen, and Electric Vehicles (EVs) is required, according to Deloitte’s report on ‘Fuels of the Future’. Atul Jairaj, Partner at Deloitte India, added that “Green hydrogen consumption will escalate from the 2040s, as its production brings both independence and self-sufficiency for India.”
The report, which explores various aspects of green mobility, was unveiled at the ETAutoTech Summit 2024.
A well-known yet often overlooked aspect is India’s potential for self-sufficiency. The Deloitte report states that India’s economy needs strengthening to reduce import bills and maintain a balance to achieve its ambitious sustainability targets.
As per reports, India in FY 2023-24 imported 232.5 million metric tonnes (MMT) of crude oil, while in FY23 it recorded 232.8 MMT, highlighting the country’s dependence on imports. To reduce the import, India needs to be independent of fuel, that means India should try to extract/produce in-house fuels instead of importing, says Atul Jairaj, Partner, Deloitte India during the two day event.
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