Convergence of Public-Private Capital, Innovation Ecosystems, and Strategic International Partnerships Will Define India’s Leadership in the Hydrogen Economy
Hydrogen production costs and efficiencies vary widely by method and geography. In India, reliance on imported natural gas raises the cost of grey and blue hydrogen compared to global averages. While green hydrogen remains costlier today, aggressive renewables expansion and policy support are expected to bring costs down to ~$2/kg by 2030. Biomass gasification, leveraging India’s agricultural residue, offers a promising decentralized route. This comparative analysis highlights how India’s hydrogen strategy must balance technology maturity, feedstock availability, and infrastructure readiness to realize its green hydrogen ambitions.
Further, aligning cost competitiveness with global benchmarks is essential for India to emerge as a key hydrogen exporter. Electrolyzer localization, viability gap funding, and scale-driven cost reductions will be crucial. Strategic production clusters near RE zones, ports, and industrial hubs can enhance economics. Policy clarity and cross-sectoral coordination will determine India’s pace in capturing its share of the $100B+ global green hydrogen trade opportunity. Moreover, regional production incentives, carbon pricing mechanisms, and renewable energy banking policies will shape investor confidence. India's ability to integrate hydrogen into refining, fertilizer, steel, and mobility sectors will directly influence demand scaling. The convergence of public-private capital, innovation ecosystems, and strategic international partnerships will define India’s leadership in the hydrogen economy.
Key Questions Answered
- What are key materials for hydrogen storage and transport?
- How big is the global and Indian market opportunity for H2 storage material by 2040?
- How can India capture a $25B hydrogen materials opportunity?
- Which global best practices can India adopt and localize?
Table of Contents
- Executive Summary
- Introduction
- Global Hydrogen Storage and Transport Market Overview
- Hydrogen Storage Technologies: Technical and Market Insights
- Hydrogen Transportation Infrastructure
- India’s Strategic Role in the Hydrogen Economy
- Advanced Materials: The Game-Changer for Hydrogen Storage and Transport
- Hydrogen Production Cost Competitiveness
- Global Best Practices and Localization Strategies
- Stakeholder Opportunities and Recommendations
- Conclusion
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- L&T
- Walchandnagar Industries Limited
- Godrej & Boyce
- BHEL
- TATA Advanced Materials
- Artson Engineering
- Vijay Tanks
- Reliance Industries
- Adani New Industries Limited
- NTPC
- IOCL
- ACME
- Greenko
- GHCL
- Praj Industries
- Grasim Industries
- BIS
- MNRE India
- NITI Aayog
- CSIR
- TERI
