India is on track to overtake China as the world leader in green hydrogen and to compete with it for the top spot in the solar energy sector, according to the country’s electrical minister.

Increased investments in renewable energy, particularly those coming from abroad, are putting India in a strong position to become a major supplier of clean energy technologies as well as a low-emissions exporter of hydrogen and ammonia. Raj Kumar Singh, the minister of power and renewable energy, said on Tuesday in Sydney.

On the margins of a two-day energy summit and meetings of the Quad group of countries, which also includes the United States, Japan, and Australia, Singh declared that his country would overtake China as the leading producer of high-efficiency solar cells and modules. We’ll be the biggest producers of green hydrogen and green ammonia on the entire planet.

Singh claims that India now has a capacity of about 15 gigawatts for the production of solar cells and modules and that an additional 50 gigawatts are being added right now. He claimed that coupled with significant local advances, foreign investment in renewables will “rise dramatically,” averaging between $9 billion and $11 billion annually.

While Mukesh Ambani’s Reliance Industries Ltd., one of India’s most valuable companies, plans to increase the production of solar panels, electrolyzers for clean hydrogen, and rechargeable batteries, billionaire Gautam Adani has committed to investing $70 billion in clean energy assets, including green hydrogen. Last month, the French oil company TotalEnergies SE agreed to work with Adani in India on hydrogen cooperation.

In the interview, Singh said, “We are the biggest and most attractive renewable energy market in the world. The government has in the past provided subsidies for regional solar panel production, and it is currently thinking about doing the same for electrolyzer production.

According to Singh, a sharp rise in imports has relieved the strain on India’s coal supply, which is used for roughly 70% of electrical generating. Despite the spike in global prices, the government has expanded its imports of fuel from overseas in an effort to avoid a repeat of last year’s power shortages.

In terms of solar cell and module production worldwide, India now makes up a very minor portion. China manufactured more than two-thirds of modules and 86 percent of cells in 2021, according to BloombergNEF, dominating both industries.