Latest news with #HFCs
Fashion Value Chain
4 days ago
- Business
- Fashion Value Chain
A Revolutionary Step in Eco-Friendly Insulation: Seho Tech Unveils NeXgener(R) Foam Blowing Agent
In a transformative move for the global insulation industry, Seho Tech has introduced NeXgener(R), a next-generation polyurethane foam blowing agent that meets modern environmental standards without compromising performance. Seho Tech unveils NeXgener(R), a next-gen polyurethane foam blowing agent designed to meet today's environmental standards With mounting global pressure to eliminate substances that damage the ozone layer and contribute to global warming, industries have faced the difficult task of finding viable alternatives to traditional blowing agents. Previously favored compounds such as HCFCs and HFCs, although effective, have been heavily regulated and phased out due to their environmental impact. NeXgener(R) rises to this challenge by offering a solution that boasts zero Ozone Depletion Potential (ODP) and zero Global Warming Potential (GWP). NeXgener(R) is a 100% chemical-based blowing agent specifically developed for polyurethane applications. It generates strong internal heat through a crosslinking reaction, enabling better control over foam expansion by adjusting water content. Its high hydroxyl value (OH-value of 400 50) allows for increased MDI usage, improving foam performance. What sets NeXgener(R) apart is not only its environmental credentials but also its technical superiority. In rigid polyurethane (PIR) injection applications, it minimizes common issues such as shrinkage, decreased flowability, or extended demolding times. Additionally, when used with 100% ester polyol, it supports the production of low-density foam without surface defects, maintaining excellent flow and structural integrity. Unlike many industrial chemicals, NeXgener(R) is non-toxic and non-flammable, offering a safer alternative for manufacturers and workers alike. The product produces fine-cell foam that provides outstanding thermal insulation, rivaling HCFC-141b. It also integrates seamlessly with existing physical blowing agents for enhanced performance. NeXgener(R) comes as a light yellowish liquid, has a high boiling point of 354, a flash point of 198, and a low viscosity (<100 cps at 25), making it stable and easy to handle. The product is available in 260 kg drums with a shelf life of 12 months when stored properly. A Green Leap for Industry Standards As sustainability becomes a core priority in manufacturing, innovations like NeXgener(R) mark a significant advancement in eco-conscious production. Seho Tech, through its research institute, continues to refine this technology, ensuring that industries can transition smoothly from harmful blowing agents to environmentally sound alternatives.
CBS News
4 days ago
- Business
- CBS News
New law closes massive tax loophole CBS News Texas discovered that allowed developers to avoid paying millions
A new law has taken immediate effect this week with Gov. Greg Abbott's signature, abolishing a loophole in the law that the CBS News Texas I-Team first brought to light over a year ago. "I'm happy. I'm ecstatic," said Arlington Mayor Jim Ross of the new law. For months, he's been pleading with Texas lawmakers to put a stop to what's known as "travelling HFCs", a practice that's allowed real estate developers to avoid hundreds of millions of dollars in taxes. "I was pissed. I still am," he told CBS News Texas in March. Housing Finance Corporations, or HFCs, are non-profits set up by cities or counties. They're intended to help them create affordable housing in their own communities. The I-Team found evidence, though, that that's not always what has happened. CBS News Texas discovered four small Texas cities (Pecos, Pleasanton, Edcouch, and La Villa) and two small counties (Maverick County and Cameron County) – none of them within three hundred miles of the metroplex - have used their HFCS to give North Texas developers huge tax breaks in exchange for money. In many cases, we learned, they've done it without even notifying the local community, affected by the significant loss of tax revenue. North Texas city leaders have told us it's forced them to consider raising taxes or cutting back on services. "We have to find ways to make up the millions and millions of dollars – and if you look statewide, it's billions of dollars - that come off the tax roll," said Ross. The Texas House and Senate this month each passed House Bill 21 with a two-thirds majority, allowing it to take immediate effect. It makes it illegal for HFCs to approve any further deals outside the boundaries of the city or county that created them without explicit permission from the affected taxing entities. The bill's author, State Rep. Gary Gates, said it also puts new requirements on the hundreds of out-of-town HFC deals that have already been made. "It gives them until January 1 of 2027, so that's about 18 months, to go to the city or county where the property is located and get an agreement to continue," said Gates. And, if they don't get approval? "Well, then they'll have to start paying property taxes," said Gates. The reform bill will put stricter rules in place for traditional HFCs, too – the kind working within the cities and counties that established them. That's prompted opposition from groups like the Texas Association of Local Housing Finance Agencies, which says no one took issue with HFCs before bad actors began making out-of-town deals two years ago. "It went far beyond just solving the travelling HFC issue," said TALHFA's Todd Kerchevel of the reform bill. Any developer getting a tax break through an HFC will now have to prove at least half of the savings they get for a multi-family housing project is used to lower the price of rent there. The exact dollar figure will change year to year, which critics say could make things tricky. "They're trying to hit a moving target, by doing that it puts their tax exemption in jeopardy and by putting your tax exemption in jeopardy, you put your financing in jeopardy," said Kercheval. But, in Arlington, a city with its own HFC, Ross doesn't see a problem. "Is there any concern that this could stop sort of legitimate affordable housing efforts?" CBS News Texas asked him. "None. Not from our perspective. We're very confident in our HFC and what they're doing. Other cities around the state are just as confident with theirs," he said.
Mint
14-05-2025
- Business
- Mint
PNB Housing eyes affordable, emerging segments to boost loan yields
Mumbai: After grappling with slower growth and elevated non-performing assets (NPAs) in its commercial loan portfolio, PNB Housing Finance is shifting its focus to profitability and margin maximization. The lender is targeting high-yielding affordable and emerging markets to counter competitive pressures from banks offering cheaper loans in prime and super-prime categories, according to a senior executive at the company. This shift also comes amid increasing competition from traditional housing finance companies (HFCs) like LIC Housing Finance, which are similarly targeting middle-to-lower-income customers. To achieve profitability, PNB Housing Finance is expanding its retail housing portfolio by increasing affordable and emerging market loans, opening new branches to serve these segments, and diversifying into commercial loans and the newly launched loan against property (LAP) vertical. Read this | Banks to walk the margin tightrope in Q1 as outlook remains uncertain PNB Housing's plans to grow its retail loan book from the current ₹75,000 crore to ₹1 trillion by FY27. Of this, the affordable housing book (branded as Roshni) will account for ₹15,000 crore, or 15% of the portfolio; the emerging segment will be around ₹25,000 crore, and the prime segment will make up the remaining ₹60,000 crore, said managing director and CEO Girish Kousgi. As of 31 March 2025, PNB Housing's assets under management (AUM) stood at ₹80,397 crore, of which loan assets comprised ₹75,765 crore, and retail loans accounted for 99% of all loan assets. Affordable and emerging segments 'We have very ambitious plans for both emerging and affordable businesses," said Kousgi, adding that while demand has been strong across segments, growth was higher in affordable and emerging segments in FY25 due to the smaller size of the books and margin pressure on the prime side. The emerging segment, launched in FY25, grew about 21% during the year, while the affordable loan segment rose 183% to ₹5,070 crore, with plans to expand to ₹9,500 crore by the end of the current financial year. Read this | PNB Housing's affordable loans drive pushes it to revive its commercial mortgage biz 'Our focus is slightly less on prime because of profitability reasons. The focus is more towards emerging and affordable," Kousgi said. The latter two segments currently account for 40% of incremental disbursements and comprise 23% of the total loan portfolio. The lender aims to increase this to 40% by FY27, he said. These segments are appealing because they largely consist of middle-to-lower-income customers and first-time homebuyers with limited credit histories, allowing HFCs to charge higher interest rates compared to prime borrowers who often receive finer pricing from banks. The current average yield for the emerging segment is around 10.25%, while the affordable segment yields 12.65%. The broader housing finance market also reflects a growing emphasis on lower-ticket loans. According to data from quasi-housing regulator National Housing Bank, loans to economically weaker section (EWS) borrowers comprised 12% of total disbursements by housing finance companies in the first half of FY25, while loans to the lower-income group accounted for 21%. However, despite the growing focus on affordable loans, the largest share of disbursements in FY24 was still concentrated in the higher-ticket segment. Loans above ₹25 lakh accounted for 58% of total disbursements, up 18.9% year-on-year, while loans up to ₹10 lakh rose 6.3% during the same period. After de-growing the commercial book in FY25, the housing financier has started re-looking at the corporate segment and plans to do about ₹1,500 crore of business in FY26 in this portfolio. "We have kind of restarted, so we will see disbursements happening in this year," Kousgi said, attributing the renewed interest in the segment to it being more margin accretive. In FY25, corporate loan disbursements were just ₹66 crore, down 55% year-on-year, with no incremental disbursements in the last quarter. "We want to take the overall mix of non-housing loans, at an enterprise retail level, to 31-32% from close to 30% today. That will help us on the yield," he said, adding that the recently launched loans against property (LAP) vertical will also help give an 'upside on yield". Balancing prime and super-prime exposure Amid a strategic move to higher-yielding loans, PNB Housing has halted fresh disbursements in the super-prime segment and slowed growth in prime loans, which grew 12% on-year in FY25. Kousgi said that within the prime segment, the focus is on 'identifying certain pockets, certain products where we get a higher yield," particularly in cities like Chennai, Hyderabad, and Bangalore, rather than the costlier real estate markets of Delhi NCR and Mumbai. PNB Housing should be able to improve the yield for the prime segment to 9.5-9.6% in FY26 from 9.4% currently led by a better mix of customer profile, product and geography, he added. While banks benefit from lower borrowing costs and can offer finer pricing to prime customers, non-bank lenders like PNB Housing face tighter spreads. The lender's loan spread remained flat at 2.19% in Q4 and FY25, with a 10 basis point sequential decline, underscoring the impact of limited pricing power in the prime segment. The shift to emerging and affordable loans is an attempt to offset this compression with higher-yielding segments. Disbursements in the final quarter of the last fiscal year (Q4FY25) were at ₹6,854 crore, up 24% year-on-year and 27% sequentially. Of this, prime loan segment disbursements were ₹4,141 crore, up 7% year-on-year, emerging segment disbursements were ₹1,422 crore, up 40% year-on-year, and affordable loans were ₹1,291 crore, doubling from the previous year. Profitability and operational challenges PNB Housing Finance reported a net profit of ₹550 crore for Q4FY25, up 25% on year and 14% on quarter. However, JM Financial Research noted that the profit was primarily driven by recoveries from the retail written-off pool, rather than core operational gains. Recoveries from written-off accounts more than doubled for the lender to ₹178 crore in FY25, compared with ₹68 crore in the previous year. PNB Housing saw a provision write-back of ₹64.8 crore, largely driven by recoveries from its retail write-offs pool. The brokerage firm said that PNB Housing's profitability in the near term is likely to remain tied to recoveries, with an outstanding write-off pool of ₹1,400 crore– ₹1,000 crore in corporate loans and ₹400 crore in retail loans–expected to drive further provision write-backs. Gross non-performing assets (NPAs) improved to 1.08% as of 31 March 2025, from 1.50% a year earlier, while net NPAs fell to 0.69% from 0.95%. However, the bounce rate for affordable loans increased to 11% in Q4FY25 from 10.4% in the previous quarter, and 8.2% a year ago, a rise Kousgi attributed to the book's growth rather than underlying stress. Read this | Are banks hiding weak asset quality with higher loan write-offs? Kousgi aims to reduce the gross NPA ratio to 1% in FY26. 'With recoveries expected to continue from the balance write-off pool, PNB Housing's credit costs are likely to remain low for the near term. Over the medium term, steady state credit costs are estimated at 20 bps (basis points)," JM Financial said, adding that a strong growth trajectory, steady branch expansion and consistent recoveries from written-off accounts should help keep the RoA (return on assets) at an average of 2.5% over FY25-FY27. Even as the focus has started shifting to higher-yielding segments, the lender's average yield on advances moderated to 10.03% in Q4FY25 from 10.12% in Q3FY25 and 10.08% in the corresponding quarter of the previous H The cost of borrowing remained stable at 7.84%, slightly up from 7.83% in the previous quarter but lower than the 7.98% recorded in Q4FY24. As a result, net interest margin (NIM) improved marginally to 3.75% in Q4FY25, up from 3.7% in Q3FY25 and 3.65% in the same period a year ago. Motilal Oswal Financial Services noted that PNB Housing's stock trades at 1.2x FY27 price-to-book value, with a favourable risk-reward profile. Yet, there are risks: the lender may struggle to expand net interest margins amid aggressive mortgage competition, and seasoning in the affordable loan book could lead to asset quality deterioration and elevated credit costs. Also read | Mint Explainer: How RBI's new digital lending rules will impact lenders and borrowers Nonetheless, Kousgi remains optimistic, highlighting the lender's capital adequacy ratio of 29% as a safeguard against immediate capital-raising needs. The reversal of risk weights on bank loans to non-banking financial companies (NBFCs) has also helped stabilize borrowing costs.
Business Standard
12-05-2025
- Business
- Business Standard
Dwarka Expressway: A Trifecta of Opportunity Reshaping Delhi-NCR's Future
NewsVoir Delhi NCR [India], May 12: Think of one of the fastest-growing real estate micro-markets in NCR in all probability, the name of Dwarka Expressway would first flash across your mind. Stretching between Delhi's Dwarka and Gurugram's Manesar, this eight-lane expressway has become the National Capital Region's (NCR) most explosive growth story, with property prices surging 58% year-on-year in Q4 2024. For developers, homebuyers, and housing finance companies (HFCs), it represents a rare alignment of opportunity. The Numbers Behind the Boom Data paints a staggering picture. According to Anarock's October 2024 Micro Market Report, average property prices along the expressway have risen 83% over the past 6.5 years, while PropEquity notes a 101% leap--from Rs. 8,630 to Rs. 17,357 per sq. ft.--between 2021 and mid-2024. Despite a 15% increase in housing supply (4,329 to 5,012 units annually), prices climbed 30% in 2024 alone, highlighting a demand-supply mismatch tilted firmly in favour of sellers. Over 26,800 residential units have been launched since 2018, accounting for 23% of Gurugram's total supply. This isn't just growth; it's a structural shift. Dwarka Expressway, riding high due to its proximity to Delhi and Gurugram, is rewriting the rules of urban development. Its emergence as a premium residential hub, backed by premium developments from trusted and reputed developers, has significantly enhanced the region's aspirational value and investment appeal," says Ishaan Singh, Director, AIPL. Sandeep Chhillar, Founder and Chairman, Landmark Group, says, "The catalyst behind Gurugram's breakout year lies in infrastructure, and Dwarka Expressway is a textbook case of how connectivity transforms value. The corridor is not just improving mobility but also elevating lifestyles. We're witnessing a dramatic shift in buyer preference towards large and premium homes, especially 3 and 4 BHKs, as affluent buyers seek more than just square footage. As revealed by CBRE, luxury housing sales in Delhi-NCR grew by 28% year-on-year in 2024, and Dwarka Expressway played a key role in this surge. This corridor will continue seeing portfolios aligned with these growth arteries, catering to the lifestyle needs in the future." "This 29-km corridor (19 km Gurugram section inaugurated as of now) is unlocking value for developers, homebuyers, and lenders alike. It has emerged as a corridor where infrastructural development, policy foresight, and relentless thrust to make it the best residential and commercial hubs have turned into a defining principle," says Rajjath Goel, Managing Director, MRG Group. Dr. Gautam Kanodia, Founder of KREEVA and Kanodia Group says, "Dwarka Expressway has emerged as a game changer for NCR's real estate market. With enhanced connectivity to key business hubs and housing corridors, Dwarka Expressway has been propelling the growth of NCR's real estate across housing and commercial segments. Driven by rapid infra upgrades, increased demand for quality living and high potential commercial projects, this stretch opens up the vast potential for integrated townships, luxury projects and commercial developments. The expressway is setting benchmarks for realty markets' growth in Delhi-NCR by not only improving the connectivity across NCR but creating a new urban model redefining lifestyle, accessibility and value creation in NCR." "Dwarka Expressway has emerged as one of NCR's most strategic growth corridors, driven by infrastructure upgrades, proximity to Delhi, and a maturing buyer profile. For developers like us, it brings together location, policy push, and sustained buyer interest, enabling the creation of high-value residential ecosystems. The focus now is on delivering not just homes, but future-ready, aspirational addresses with enduring financial and lifestyle returns," says Vishesh Rawat, VP & Head of Sales, Marketing, and CRM, M2K Group. "Gurugram's luxury real estate market is experiencing an unprecedented boom, and the Dwarka Expressway is at the heart of this transformation, From an emerging corridor to a prime destination for premium housing, this region has seen exceptional appreciation in property values. The surge is driven by a trifecta of opportunity: strong demand from lifestyle-focused homebuyers, aggressive investments by developers, and strong interest from financial institutions. With Gurugram's evolving social infrastructure and its appeal as a corporate hub, we anticipate continued growth, promising lucrative returns for investors and a sophisticated living environment for residents," says Dimple Bhardwaj, Head of Channel Sales & Marketing, at Better Choice Realtors Pvt Ltd. The crown jewel is the Rs. 1 lakh crore Global City project--a 1,000-acre smart hub near Sector 36B. With the first phase slated for completion starting in late 2025, its mix of commercial towers, luxury residences, and green spaces aims to mirror Dubai's Business Bay. Homebuyers: Connectivity Meets Convenience For buyers, the expressway's value proposition hinges on connectivity and future-proofing. The corridor's upcoming infrastructure--a 16-lane highway, India's widest tunnel (opening May 2025), and a proposed metro line--promises sub-30-minute commutes to Delhi, Gurugram, and the Indira Gandhi International Airport. "Analysts argue the area's aspirational branding--often likened to Singapore and Dubai--resonates with young professionals. Premium amenities like smart home tech, private parks, and concierge services now dominate new launches, with Knight Frank reporting a 31% YoY price jump in NCR's luxury segment (early 2025)," says Vikas Dua, Founder & Director at Chintamanis. Analysts argue the area's aspirational branding--often likened to Singapore and Dubai--resonates with young professionals. Premium amenities like smart home tech, private parks, and concierge services now dominate new launches, with Knight Frank reporting a 31% YoY price jump in NCR's luxury segment (early 2025). HFCs: Riding the Loan Wave For housing finance companies, the corridor's price surge has been a boon. Higher property values mean larger loan portfolios, while the influx of high-income buyers reduces default risks. Almost all financial institutions have reported an uptick in loan applications for Dwarka Expressway properties in 2024, with average ticket sizes ranging from Rs. 1-3 crore. Dwarka Expressway stands as a test case for India's urban ambitions. For stakeholders, the rewards are high. This isn't just a highway but a roadmap for India's premium housing ambitions. With Rs. 1 lakh crore in active investments and 20,000 jobs expected from Global City alone, the trifecta of opportunity shows no sign of slowing.
Indian Express
12-05-2025
- Science
- Indian Express
Hydrogen fuel cell vehicles for greener tomorrow
— Kannan K (The Indian Express has launched a new series of articles for UPSC aspirants written by seasoned writers and scholars on issues and concepts spanning History, Polity, International Relations, Art, Culture and Heritage, Environment, Geography, Science and Technology, and so on. Read and reflect with subject experts and boost your chance of cracking the much-coveted UPSC CSE. In the following article, Kannan K explains how hydrogen fuel cells compliment India's transition to green mobility.) As India accelerates its transition to sustainable transportation, major players across sectors are embracing green hydrogen mobility. Last week, India's first hydrogen-powered truck was deployed for mining logistics in Chhattisgarh. This was followed by the Indian Oil Corporation signing an MoU with Hyundai Motor India to explore the feasibility of mass-market adoption of hydrogen fuel cell vehicles (HFCVs), while Indian Railways announced plans for a hydrogen-powered train. These developments prompt a closer examination of the technology enabling this transition – hydrogen fuel cells that power Hydrogen fuel cell vehicles. Hydrogen Fuel Cells (HFCs) generate high-quality electric power that is clean, quiet, and consistently reliable by converting the chemical energy stored in Hydrogen into electrical energy. The primary components of an HFC are the Membrane Electrode Assembly (MEA) and the bipolar plates. The MEA is where the electrochemical reaction takes place. It consists of a Proton Exchange Membrane (PEM) placed between two catalyst layers – anode (where hydrogen gas enters the fuel cell) and cathode (where oxygen from the air enters). Surrounding them are Gas Diffusion Layers that help distribute reactant gases (hydrogen and oxygen) and remove byproducts (water and heat). Let's understand it in detail. First, hydrogen fuel (H2) is passed through the anode and is split into protons (H+) and electrons (e-) via oxidation using a catalyst. Then the PEM allows only protons to pass through to the cathode. Electrons flow through an external circuit, generating electricity. At the cathode, oxygen (O2) from the air interacts with the catalyst and undergoes reduction. Subsequently, Oxygen reacts with the protons that have passed through the membrane, and the electrons from the external circuit to produce water (H2O). The bipolar plates facilitate gas distribution, electron conduction between cells in a stack, and heat management. This continuous electrochemical process converts the chemical energy of hydrogen directly into electrical energy with water vapour as the only byproduct. This continuous process can generate energy as long as fuel and oxidants are supplied. Due to their operation via electrochemical reactions, HFCs have no moving parts, making their operation silent and highly reliable. These technological advantages of HFCs form the backbone of Hydrogen Fuel Cell Vehicles (HFCVs), which represent a significant innovation in clean transportation. As mentioned earlier, they run on electric motors powered by fuel cells, which generate electricity through the electrochemical reaction of compressed hydrogen with atmospheric oxygen — emitting only water vapour as a byproduct. Since they use electric motors, HFCVs are classified as Electric Vehicles (EVs). They produce much smaller quantities of greenhouse gases and none of the air pollutants that cause health problems. Given that hydrogen is one of the most abundant elements on Earth, it holds strong potential as a viable alternative to conventional Internal Combustion Engine (ICE) vehicles. Thus, HFCVs offer a vast array of advantages in the quest for clean and sustainable transportation systems. They have no tailpipe emissions other than water vapour, ensuring the prevention of localised air pollution – this can be of critical importance for cities struggling with poor air quality. HFCVs also support rapid refueling, comparable to conventional ICE vehicles, and provide extended driving ranges. This alleviates concerns regarding range limitations and lengthy recharge times often associated with battery EVs. Their silent operation and efficient energy conversion process are further advantages. Additionally, hydrogen's high energy-to weight ratio allows for longer ranges without requiring excessively large or heavy fuel storage, making it ideal for larger vehicles like buses and trucks where downtime for charging can be a significant issue. However, HFCVs have challenges too. Despite the impressive potential of HFCVs, there are a few drawbacks that hinder their large-scale adoption. Hydrogen refuelling infrastructure in India is minimal, limiting the range and operational viability of such vehicles. Further, the costs of producing Hydrogen, its compression, transportation and storage are exorbitant, particularly when using sustainable methods. Therefore, the initial capital outlay required to create HFCVs and supporting infrastructure is significantly higher than that for battery electric vehicles (EVs). The high cost of materials and limited scale of production adds to the issue. There is also a need to improve the overall lifespan and durability of fuel cells. Finally, public concerns regarding the safety of hydrogen, despite stringent safety measures in place, may slow the adoption of HCFVs. It is important to note that while HFCVs ensure clean transport and prevent carbon emissions during operation, their overall sustainability depends on the source of the hydrogen they use. For HFCVs to be truly clean and sustainable, the hydrogen must be Green Hydrogen, produced via the electrolysis of water using renewable energy. This process has near-zero greenhouse gas (GHG) emissions. Other forms of hydrogen – Blue Hydrogen produced from fossil fuels with carbon capture, Gray Hydrogen produced from natural gas, and Brown Hydrogen produced from brown coal – all emit carbon at various levels and are thus not considered clean energy sources. The National Green Hydrogen Mission was approved by the Union Cabinet in 2023, recognising the role of Green Hydrogen in India's ambitions of energy independence by 2047 and Net Zero by 2070. Supported by the Ministry of New and Renewable Energy (MNRE), NGHM views Green Hydrogen as a sunrise sector for India. It has the objective of making India a global hub for the production, usage and export of Green Hydrogen and its derivatives. To achieve these objectives the mission aims to build capacity to produce at least 5 MMT (Million Metric Tonne) per annum. The NGHM has identified heavy-duty, long-haul transportation as a key area where HFCVs can make optimal impact. It has mooted the idea of 'Hydrogen Highways' – along which Hydrogen production and distribution infrastructure and refuelling stations are established – to enable unhindered, zero-emission movement of commercial vehicles such as inter-state buses and freight trucks. The Hydrogen Valley Innovation Cluster (HVIC) programme is a strategic initiative under the NGHM to promote the deployment of hydrogen technologies across various sectors within specific geographical regions, creating integrated 'hydrogen ecosystems' or 'hydrogen valleys.' The main focus sectors of the HVIC programme are mobility, industry and energy. By creating clusters of hydrogen activity, the programme aims to accelerate technological development and build necessary infrastructure to make green hydrogen a viable and sustainable energy solution for India through a phased, decentralised approach. HVIC projects have already been initiated in Kerala, Tamil Nadu, Gujarat, Maharashtra, and Rajasthan. To sum up, the large-scale adoption of HFCVs necessitates a multi-pronged effort. There is a need to scale up the production of Green Hydrogen and establish hydrogen refuelling centres across the country, realising the concept of Hydrogen Highways. Equally important is the need to support Research and Development in the field of hydrogen cells to reduce cost and improve the durability of these cells. In addition, supportive government policies and incentives, including subsidies and mandates for clean vehicle adoption, can help drive early adoption by consumers. The establishment of a clean hydrogen economy will significantly contribute to India's clean energy and Net Zero targets. Why is hydrogen considered a clean energy source for transportation? How do hydrogen fuel cells work? Widespread adoption of Hydrogen Fuel Cell Vehicles can significantly improve air quality in India's most polluted cities. Comment. How do the operational advantages of Hydrogen Fuel Cell Vehicles (e.g., silent operation, rapid refueling) stack up against their technical and economic challenges? How does the National Green Hydrogen Mission aim to position India as a global leader in hydrogen energy? What role can Hydrogen Fuel Cell Vehicles play in India's broader clean energy and Net Zero strategies by 2047 and 2070? (Kannan K is a doctoral candidate in Political Science at the Centre for Economic and Social Studies, Hyderabad.) 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