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Instead of copying China, India must focus on sunrise sectors to become global manufacturing hub: Niti Aayog CEO

Niti Aayog says India must focus on sunrise sectors

India, which aims to become a global manufacturing hub and achieve a $ 5 trillion economy by 2025, needs to focus on its own areas of strength and not copy China, Niti Aayog’s CEO Amitabj Kant said on Thursday.

“India cannot become the next factory of the world by copying China… We have always got into sunset areas of growth, this is the time to get into sunrise areas of growth,” Kant said.

Speaking at the annual session of the Confederation of Indian Industry, Kant added that India should not get into sectors where China is already an established player. As the world is moving towards green technology, India needs to increase its focus on the renewable sector, he said.

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'India has the strongest global companies in the renewable sector… these (hydrogen, high end batteries, advanced solar panels) are areas of technology of growth, if you want to be a global leader,' Kant said, adding that the private sector must focus on these areas to become competitive.

“The old technology will die, the green technology is the future,” he said.

Kant noted that while only 18 per cent of India's final energy consumption is in the form of energy, the rest 82 per cent needs other forms of decarbonisation. Kant noted that Europe and America together would require close to 500 gigawatts of imported green hydrogen and ammonia.

'India should target to export at least 200 gigawatts of this green hydrogen and green ammonia by 2030,' he said.