India poised to rank third globally in economic size, according to Prime Minister, due to increased focus on renewable energy and hydrogen technology.

Prime Minister Narendra Modi recently met with top oil and gas industry leaders for the annual brainstorming session, with a focus on creating a sustainable growth path for India. The meeting, attended by heads of international oil companies such as BP plc of the UK, ExxonMobil, TotalEnergies, Rosneft, and several Indian public sector companies, aimed to discuss strategies and initiatives to achieve India's goal of becoming the world's third-largest economy through renewables and hydrogen.

PM Modi expressed his desire to use 100% renewable energy and spoke about increasing blends of ethanol and biofuels in traditional fuels. He also expressed his vision to make India the world's largest hydrogen-producing nation. Hydrogen, when burned, emits only water and oxygen, making it an attractive alternative to fossil fuels.

The discussion focused on ideas and initiatives to cut reliance on imported oil and gas. Other topics of discussion included enabling ease of doing business through self-certification and lowering taxes in the oil and gas sector to global levels of 40%, from the current 70%.

Industry leaders spoke of the imperatives for making India the world leader in renewable energy, biofuels, and hydrogen. While specific international entrepreneurs involved in discussions about making India the third-largest hydrogen producer have not been widely reported, the involvement of companies like Ohmium International and AM Green with John Cockerill in India's hydrogen sector indicates interest from international players.

The meeting also highlighted PM Modi's vision for a more sustainable India. With a focus on renewable energy, biofuels, and hydrogen, India is poised to take a significant step towards becoming a global leader in clean energy and reducing its carbon footprint. As the world continues to grapple with climate change, India's commitment to a sustainable future is a welcome development.

However, no specific details were provided about the exact strategies or initiatives discussed for achieving India's goal of becoming the world's third-largest economy through renewables and hydrogen. As more information becomes available, it will be interesting to see how India plans to realise this ambitious vision.

India poised to rank third globally in economic size, according to Prime Minister, due to increased focus on renewable energy and hydrogen technology.