Latest news with #Policy2024
The Print
18-07-2025
- Business
- The Print
Andhra Pradesh aims 1 MMT green hydrogen capacity: Minister Pemmasani Shekhar
He said NTPC Green Energy Ltd (NGEL), an arm of NTPC, is looking to develop a green hydrogen hub at Pudimadaka in Visakhapatnam. On January 4, 2023, the Union Cabinet approved the National Green Hydrogen Mission with an outlay of Rs 19,744 crore and a target of producing 5 million metric tonnes (MMT) per annum of Green Hydrogen in the country by 2030. 'Andhra Pradesh is now evolving into the beating heart of India's green hydrogen ecosystem with an ambitious target of 1 MMT green hydrogen (20 per cent of nation's production) per annum by 2030,' the Minister of State (MoS) for Communications and Rural Development Pemmasani Chandra Shekhar said at an event in Amravati, Andhra Pradesh. New Delhi, Jul 18 (PTI) Andhra Pradesh is targeting 1 million metric tonnes (MMT) of green hydrogen capacity by 2030, which will require huge investments, Union Minister Pemmasani Chandra Shekhar said, urging investors to avail benefits of state policies. India's largest green hydrogen hub will be capable of producing 1,500 tonnes/day of green hydrogen and 7,500 tonnes/day of derivatives (green ammonia, methanol, sustainable aviation fuel). The state will see investment worth Rs 1.85 lakh crore, he said. Another player, Hero Future Energies, is also keen to set up a green hydrogen plant at Tirupati. These investments and export-ready world-class ports of Andhra Pradesh are signalling to the world that clean-energy scale is both possible and profitable, the minister said. Speaking on challenges, he said while the opportunities are immense, the path to a green hydrogen economy is not without hurdles. He said cost competitiveness remains a challenge. Producing green hydrogen requires significant investment in electrolysers, renewable energy infrastructure, and storage systems. Globally, green hydrogen costs USD 3-6 per kg, compared to USD 1-2 per kg for grey hydrogen. Scaling up production and improving electrolyser efficiency are critical to closing this gap, the minister said. Another challenge is water scarcity. Producing 1 kg of green hydrogen requires 9 litres of freshwater, and with India's water demand projected to double its supply by 2030, innovations like seawater electrolysis are essential. 'Third, infrastructure gaps, including pipelines, refuelling stations, and storage facilities, must be addressed to enable efficient transport and distribution. Despite these challenges, Andhra Pradesh is forging ahead,' the minister said. He also urged investors to participate in the state's integrated value chain – from electrolyser fabrication to derivative fuels. The state's proactive policies, such as tax breaks, subsidies, and the draft Integrated Clean Energy (ICE) Policy 2024, are designed to overcome these barriers and accelerate green hydrogen adoption, Shekhar said. PTI ABI ABI SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
19-05-2025
- Business
- Time of India
Uttar Pradesh government's GCC policy to position Noida, Lucknow, Varanasi as tech hubs
LUCKNOW : The Uttar Pradesh government on Sunday said its Global Capability Centres (GCC) Policy 2024 focusses on attracting Fortune 500 companies and boost foreign direct investments, and aims to turn cities like Noida , Lucknow, Kanpur , and Varanasi as into hubs of technology and digital services. The policy outlines an ambitious plan to generate over 2 lakh high-paying jobs over the next five years, the state government said in a statement. Special incentives will be offered to attract investment from top global corporations. It will not only accelerate Uttar Pradesh's economic growth, but will also open doors to a wide array of opportunities for the state's youth. With this initiative, the Chief Minister Yogi Adityanath-led government's resolve to make UP a USD 1 trillion economy will also be strengthened, the statement said. The policy lays out rules for setting up Level-1 and advanced GCCs. For Level-1 GCCs, companies need to invest at least Rs 15 crore or employ 500 people outside Gautam Buddha Nagar and Ghaziabad. In these two districts, the minimum investment requirement is Rs 20 crore. Advanced GCCs require an investment of Rs 50 crore (outside Gautam Buddha Nagar and Ghaziabad) or Rs 75 crore (within these districts), along with 1,000 employees. This ensures equal opportunities for both small and large investors. The state has introduced incentives to win the confidence of investors. These include 30-50 per cent subsidy on land cost, 100 per cent stamp duty exemption, 25 per cent capital subsidy (up to Rs 10 crore for Level-1 and Rs 25 crore for Advanced GCCs), SGST reimbursement, 5 per cent interest subsidy, and 20 per cent operational subsidy (up to Rs 40 crore for Level-1 and Rs 80 crore for Advanced GCCs). Companies can also receive payroll support of up to Rs 1.8 lakh per employee. These benefits will reduce set-up costs and encourage investment in the state, the statement said. Besides, customised incentive packages will be offered to GCCs to be set up by Fortune 500 companies or India's top 500 corporates, as well as those with foreign direct investment (FDI) of over Rs 100 crore. This is part of the government's strategy to attract top global companies to Uttar Pradesh. The policy also supports innovation and startups. It includes 50 per cent cost reimbursement for startup ideation (up to Rs 2 crore), an Intellectual Property Rights (IPR) subsidy of Rs 5-10 lakh for patents, and grants of up to Rs 10 crore for setting up centres of excellence. These measures aim to make Uttar Pradesh a hub for technological innovation, the statement added.
Hindustan Times
18-05-2025
- Business
- Hindustan Times
UP GCC Policy: Govt aims to woo Fortune 500 companies, generate over two lakh jobs
With a focus on attracting Fortune 500 companies and foreign direct investment (FDI), the UP Global Capability Centres (GCC) Policy 2024 aims to position cities like Noida, Lucknow, Kanpur, and Varanasi as thriving hubs for technology and digital services, state government officials said on Sunday. The government has set a target of generating over two lakh jobs in the next five years, and special incentives are being offered to attract investment from top global corporations, they added. The policy lays out clear rules for setting up level-1 and advanced GCCs. For level-1 GCCs, companies must invest at least ₹15 crore or employ 500 people outside Gautam Buddha Nagar and Ghaziabad. In these two districts, the minimum investment is ₹20 crore. Advanced GCCs require an investment of ₹50 crore (outside Gautam Buddha Nagar/Ghaziabad) or ₹75 crore (within these districts), along with 1,000 employees. This ensures equal opportunities for both small and large investors, officials said. The state government has introduced incentives to win the confidence of investors -- including 30-50% subsidy on land cost, 100% stamp duty exemption, 25% capital subsidy (up to ₹10 crore for level-1 and ₹25 crore for advanced GCCs), state GST reimbursement, 5% interest subsidy, and 20% operational subsidy (up to ₹40 crore for level-1 and ₹80 crore for advanced GCCs). Companies can also receive payroll support of up to ₹1.8 lakh per employee. These benefits will reduce setup costs and encourage investment in the state, officials said. Customised incentive packages will be offered to GCCs set up by Fortune Global 500 or India 500 companies, as well as those with FDI of over ₹100 crore. According to the state government, the policy also supports innovation and startups. It includes 50% cost reimbursement for startup ideation (up to ₹2 crore), an intellectual property rights (IPR) subsidy of ₹5-10 lakh for patents, and grants of up to ₹10 crore for setting up centres of excellence.
