India has a unique opportunity to lead industrialization through low-carbon technologies: Amitabh Kant

G20 Sherpa Amitabh Kant believes India can become the epicenter of global energy transformation with futuristic technologies

He added that India has a unique opportunity to lead in urbanization and industrialization through low-carbon technologies such as lithium-ion batteries.

The Indian electric vehicle market, which is home to a number of startups, both small and large, is expected to reach $110.74 billion by 2029

Former NITI Aayog CEO and G20 Sherpa Amitabh Kant believes that with futuristic technologies, India can become the epicenter of the global energy transformation.

Speaking at the EVOLVE 2024 event, Kant said, “I often hear voices where some companies are opting for intermediate technologies like hybrid vehicles, while others are starting to opt for blue and grey hydrogen or gas. I am absolutely certain that India needs to jump into new and ultimate technologies like – electric vehicles, battery storage, green hydrogen and cutting-edge technologies. This will give India a first-mover advantage and India will become the focal point for all new technologies from India to the rest of the world.”

Moneycontrol was the first to report on this event.

He added that India has a unique opportunity to lead urbanization and industrialization through low-carbon technologies such as lithium-ion. “By producing batteries locally, India could reduce fossil fuel imports worth $160 billion and increase the country’s energy independence.”

“We need to create infrastructure across the entire supply chain so that we are not dependent on imports from one country,” added G20 Sherpa.

Stressing the importance of developing domestic battery cell production capabilities, Kant said the transition to low-emission technologies largely depends on lithium-ion technology, which is essential to power electric vehicles and new energy sectors.

The Indian electric vehicle market, which is home to a number of startups both large and small, is expected to reach $110.74 billion by 2029Several Indian EV startups such as Ather Energy, Altigreen, BluSmart and Exponent Energy are currently offering sustainable mobile solutions.

These startups offer a variety of services, including sustainable mobility, energy infrastructure, commercial mobility, and battery management systems. They help reduce carbon emissions and offer a cost-effective alternative to fossil fuels for both consumers and businesses.