Exclusive: Government's focus now on Hydrogen; Linde, Refex stocks set to gain big, Anil Singhvi says

The Government has started work on a road map for developing India into a Hydrogen economy. Cabinet Secretary conducted a high-level meeting with respect to that. Who all participated in the meeting and what was the agenda of the discussion? In chat with Zee Business Managing Editor Anil Singhvi, Special Correspondent Chetan Bhutani gives this detailed report. 

While the Narendra Modi Government has big focus on ethanol blending, it is now looking at making India a Hydrogen Economy, Bhutani tells in this exclusive report, citing top government sources.  

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Bhutani said that his sources have revealed that the Cabinet Secretary has chaired a high-level meeting on Thursday on this issue. In the meeting discussions on the storage of hydrogen, its transportation and on hydrogen fuel. 

The biggest beneficiary of this focus is expected to benefit primarily two companies viz. Linde India and Refex Industries, he further said. This will put the two companies under a lot of focus, he added. 

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The government wants Niti Aayog, Ministry of Petroleum and Natural Gas, Ministry and Ministry of Power, Ministry of Road Transport and Highways and Ministry of New and Renewable Energy to work on the Hydrogen sector, he said. Bhutani said that this would also bring down import bills of the government, quite significantly. 

It will also reduce the government’s fuel dependence on imports. The government also wants the Niti Aayog and its ministries to rely more on renewable source of hydrogen rather than the thermal source of hydrogen.  

He said that in layman’s language, the government wants to extract hydrogen from the natural sources. 

He said that this is a big development for the domestic companies. The Prime Minister has also announced a National Hydrogen Energy Mission in 2020 and later this year in the Union Budget, Finance Minister Nirmala Sitharaman has also made allocation of Rs 1500 for this sector, Bhutani said. 

The renewable energy sector will be putting a lot of focus on the hydrogen segment which will be not only good for the sector but companies in this business, he said.