India Has Unique Opportunity To Lead In Industrialisation Via Low-Carbon Techs: Amitabh Kant

There Is No Funding Winter For Good Startups: India’s G20 Sherpa Amitabh Kant

SUMMARY

G20 Sherpa Amitabh Kant believes that with futuristic technologies, India can become the epicentre of the world’s energy transition

He further said that India has a unique opportunity to lead in urbanisation and industrialisation through low-carbon technologies like lithium-ion

The Indian EV market, which includes a mix of small and large startups, is projected to reach $110.74 Bn by 2029

Former NITI Aayog CEO and G20 Sherpa Amitabh Kant believes that with futuristic technologies, India can become the epicentre of the world’s energy transition.

Speaking at the EVOLVE 2024 event, Kant said, “Quite often, I hear the voices wherein some companies advocate intermediate technologies like hybrid vehicles, while others start advocating blue and grey hydrogen or gas. I am absolutely clear that India must leapfrog into emerging and final technologies like – electric vehicles, battery storage, green hydrogen and cutting edge technologies. This will give India the first mover advantage and India becomes the focal point of all emerging technologies from India to the rest of the world.”

Moneycontrol reported the development first.

He further said that India has a unique opportunity to lead in urbanisation and industrialisation through low-carbon technologies like lithium-ion. “By making battery packs locally, India could reduce its $160 Bn fossil fuel imports and enhance domestic energy independence.”

“We must create the infrastructure across the supply chain so that we are not import dependent on one country,” the G20 Sherpa added.

While emphasising the importance of developing domestic battery cell manufacturing capabilities, Kant said that the transition to low-carbon technologies heavily depends on lithium-ion, which is essential for powering electric vehicles and the new energy sectors.

The Indian EV market, which includes a mix of small and large startups, is projected to reach $110.74 Bn by 2029. Several Indian EV startups, such as Ather Energy, Altigreen, BluSmart, and Exponent Energy, are now offering sustainable mobility solutions.

These startups provide a variety of services, including sustainable mobility, energy infrastructure, commercial mobility, and battery management systems. They are helping to reduce carbon emissions and offer a cost-effective alternative to fossil fuels for both consumers and businesses.