Airbag industry in India & Green hydrogen

Airbag industry in India to grow to ₹7,000 cr. by FY27

• The industry size of airbags is expected to grow to up to ₹7,000 crores by FY27 in India from the current level of about ₹2,500 crores, according to rating agency ICRA.
• The growth in one of the fastest-growing auto component segments is expected to be fuelled by a rise in content per vehicle arising from higher regulatory needs and a voluntary increase in the number of airbags per vehicle for enhancing safety.
• “The average number of airbags per car sold is about three currently, and this is expected to increase significantly post the mandatory implementation of six airbags per car from October 1, 2023.

Green hydrogen may get a $2 bn incentive

• India is planning a $2­billion incentive programme for the green hydrogen industry in a bid to cut emissions and become a major export player.
• The ₹180­billion ($2.2 billion) incentive aims to reduce the production cost of green hydrogen by a fifth over the next five years, said a senior government official and an industry manager working in renewable energy. The current cost in India is ₹300 to ₹400 per kg. 
• Hydrogen can be used as fuel. It is made by splitting water with an electrical process, electrolysis. If the devices that do that — electrolysers — are powered by renewable energy, the product is called green hydrogen, a fuel-free of greenhouse emissions.
• The aid could be announced in the February 1 Budget for the year beginning April 1.