In an era where renewable energy sources and sustainable practices are at the forefront of discussions worldwide, the emergence of hydrogen as a clean and versatile energy carrier has garnered significant attention. The need to transition towards greener energy solutions has led to a surge in hydrogen production and distribution.

Recognizing the potential of this burgeoning industry, Gujarat International Finance Tec-City (GIFT City), located in India, has taken the lead in establishing a Global Hydrogen Trading Mechanism by forging a strategic collaboration with Indian Gas Exchange (IGX) and Gujarat State Petroleum Corporation (GSPC). This Global Hydrogen Trading Mechanism is the second of its kind globally. The initiative and collaboration for such an innovative technology has moved GIFT City a step forward toward the flourishing green hydrogen economy.

Hydrogen, often referred to as the "fuel of the future," is a clean energy source with the potential to revolutionize the way we power our world. It can be produced using various methods, including electrolysis powered by renewable energy sources, such as wind and solar. When used in fuel cells, hydrogen emits only water vapor, making it a zero-emission energy carrier.

After this announcement, a media release stated, “A key aspect of this partnership is the subsequent launch of the Global Hydrogen Price Index, a benchmark that will play a pivotal role in price discovery and market information on the burgeoning green hydrogen market in India. This mechanism is expected to enhance transparency, boost investors’ confidence, and facilitate the growth of the green hydrogen market on a global scale.”

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