India cannot become world’s new manufacturing hub by copying China: Amitabh Kant

New Delhi : NITI Aayog CEO Amitabh Kant on Thursday said that India cannot become the new manufacturing hub of the world by copying China. If India has to move ahead in this field, then it has to focus on new emerging areas of growth. Addressing the annual meeting of industry body CII, Kant said India’s private sector has to set ambitious targets for itself and focus on green hydrogen, high-end batteries, advanced solar panels to become competitive.

He said that by copying China, India cannot become the next factory (manufacturing center) of the world. We have always landed in those areas which are on a sloping point of growth, the time has come for us to focus on emerging areas of growth. According to Kant, India should not try to make a place in those areas in which China is already ahead.

He said that India has one of the strongest global companies in the renewables sector. These (hydrogen, high end batteries, advanced solar panels) are areas of technology-led growth that you have to focus on if you want to be on top of the world. Kant said that India can be a major exporter of both green hydrogen and ammonia. He also said that the price of solar energy should come down to Re 1 per unit in the next five years.

Kant said that only 18 per cent of India’s final energy consumption is in the form of energy and the remaining 82 per cent needs other forms of non-carbon dioxide emissions. Citing the analysis of NITI Aayog, he said that Europe and America together will import about 500 gigawatts of green hydrogen and green ammonia.

Kant said India should aim to export at least 200 GW of green hydrogen and green ammonia by 2030.
He said Indian industry needs to become healthy, digital and invest in skills, grow rapidly in Corporate R&D (R&D) and strive for cutting edge product innovations to be competitive.