India can't become world's next factory by copying China: Amitabh Kant

Kant calls on industry to focus on digitisation and green tech

A day after Prime Minister Narendra Modi called upon industry to reignite its risk-taking abilities, NITI Aayog CEO Amitabh Kant on Thursday said India can never become the next factory of the world by copying China but by having its own model of low-cost green power, which is recognised by the world.
 
“We have always got into sunset areas of growth, this is the time to get into sunrise areas of growth,” Kant said while addressing a virtual event organised by industry body CII. Calling upon industry to set ambitious targets for itself and focus on hydrogen, high-end batteries and advanced solar panels, Kant said India Inc has to go digital, become lean, focus on skilling and invest in green technologies if it wants to compete with the best in the world.

 
Pointing out that only 18 per cent of India’s final energy consumption is in the form of green energy, he emphasised that the remaining portion also needs to come from non-fossil fuel sources. Citing the NITI Aayog’s analysis, Kant said Europe and America together will import close to 500 gigawatts of green hydrogen and green ammonia. “India should target to export at least 200 gigawatts of this green hydrogen and green ammonia by 2030.”
 

He said industry also needs to focus and invest heavily on research and development.