Asia likely to contribute 60% to global growth by 2030: Mukesh Ambani
Speaking at the Asia Economic Dialogue (AED) 2022, Ambani said the 21st century will belong to Asia as the centre of gravity of the global economy has shifted to it.
- Feb 23, 2022,
- Updated Feb 23, 2022 2:45 PM IST
Reliance Industries Limited (RIL) chairman Mukesh Ambani said on Wednesday that the Asian region is expected to contribute nearly 60 per cent to global growth by the year 2030.
Speaking at the Asia Economic Dialogue (AED) 2022, Ambani said the 21st century will belong to Asia as the centre of gravity of the global economy has shifted to it. "By 2030, the Asian region is expected to contribute nearly 60 per cent of the global growth," he noted.
"Asia is leading the march towards a more inclusive global economy. The mismatch between democracy and development is closing. This is a most welcomed trend," Ambani stated.
Also Read: Mukesh Ambani overtakes Gautam Adani to become richest Indian again
Talking about the climate crisis, he noted that it is essentially an "energy crisis". Excessive use of fossil fuels has endangered the fragile ecology of the planet," Ambani said.
Highlighting the need for transition to clean energy for human kind's survival, he stated, "Humans, animals, trees are not competing for space. We are linked by countless forms of cooperation. Transition is new, clean energy is not an option. Our survival will depend on it."
RIL is targeting to become one of the largest producers of blue hydrogen globally, producing zero-emission fuel at costs that will be half of the global average.
The operator of the world's largest oil refining complex will re-purpose a Rs 30,000 crore plant that currently converts petroleum coke into synthesis gas to produce blue hydrogen for $1.2-1.5 a kilogram, Reliance recently said in a presentation detailing the separation plan.
Also Read: Reliance Industries targets to become world's top blue hydrogen maker
Reliance, which has set a net-zero carbon emission target for its businesses by 2035, is looking at blue hydrogen in the interim period, along with reduction in cost of green hydrogen.
The government on February 17 announced the first stage of policies to encourage green hydrogen/ ammonia development in the country, with plans to reach 5 million tonnes per annum of output by 2030.
The plan has significant flexibility and incentives for hydrogen producers in terms of sourcing/ development of renewable electricity -- a key to green hydrogen and ammonia production.
Reliance Industries Limited (RIL) chairman Mukesh Ambani said on Wednesday that the Asian region is expected to contribute nearly 60 per cent to global growth by the year 2030.
Speaking at the Asia Economic Dialogue (AED) 2022, Ambani said the 21st century will belong to Asia as the centre of gravity of the global economy has shifted to it. "By 2030, the Asian region is expected to contribute nearly 60 per cent of the global growth," he noted.
"Asia is leading the march towards a more inclusive global economy. The mismatch between democracy and development is closing. This is a most welcomed trend," Ambani stated.
Also Read: Mukesh Ambani overtakes Gautam Adani to become richest Indian again
Talking about the climate crisis, he noted that it is essentially an "energy crisis". Excessive use of fossil fuels has endangered the fragile ecology of the planet," Ambani said.
Highlighting the need for transition to clean energy for human kind's survival, he stated, "Humans, animals, trees are not competing for space. We are linked by countless forms of cooperation. Transition is new, clean energy is not an option. Our survival will depend on it."
RIL is targeting to become one of the largest producers of blue hydrogen globally, producing zero-emission fuel at costs that will be half of the global average.
The operator of the world's largest oil refining complex will re-purpose a Rs 30,000 crore plant that currently converts petroleum coke into synthesis gas to produce blue hydrogen for $1.2-1.5 a kilogram, Reliance recently said in a presentation detailing the separation plan.
Also Read: Reliance Industries targets to become world's top blue hydrogen maker
Reliance, which has set a net-zero carbon emission target for its businesses by 2035, is looking at blue hydrogen in the interim period, along with reduction in cost of green hydrogen.
The government on February 17 announced the first stage of policies to encourage green hydrogen/ ammonia development in the country, with plans to reach 5 million tonnes per annum of output by 2030.
The plan has significant flexibility and incentives for hydrogen producers in terms of sourcing/ development of renewable electricity -- a key to green hydrogen and ammonia production.