The Indian cabinet has today approved an “initial outlay” of 197.44bn rupees ($2.4bn) for its National Green Hydrogen Mission, which aims to make India a global hub for the production, utilisation and export of renewable H2 and its derivatives.

The vast majority of the funding — 174.9bn rupees ($2.11bn) — will go towards two distinct financial incentives mechanisms: one for the production of green hydrogen and the other for the domestic manufacturing of electrolysers.