India needs low-cost capital to fuel green energy projects: Kant

India needs low-cost capital to help domestic entrepreneurs execute global scale projects in areas like green hydrogen, solar energy, electric vehicles and battery manufacturing, Niti Aayog CEO Amitabh Kant said on Friday, adding that there is a need to build a sustainable country.

Addressing a virtual event organised by the Centre for Social and Economic Progress (CSEP), Kant further said India is in a very unique position in hydrogen and it should be moving towards green hydrogen in the oil refining and fertiliser sectors.

“We need to build a sustainable India…India needs only low cost capital to fuel the Indian green entrepreneur to execute global scale projects in green hydrogen, solar, EV and battery etc, ” he said.

Kant noted that the government has pushed for green energy and India is the fourth largest in the world in renewable energy installed capacity.

Talking about climate change, he said as far as the net-zero emission target is concerned, the developed world has given itself more than 40 years, and 7 years for transition.

“So, we can talk about net-zero (emission target), but definitely it can’t be 2050. It has to be some year in the future at which many, many models are being looked at but something which will be politically decided.

“But we need to look at various models through which we will arrive at the best possible solution for that,” he said.