India is aiming to become the world’s lowest-cost producer of green hydrogen, with a goal of reducing production costs from $4.5 per kilogram to $1 per kilogram by 2030. According to former NITI Aayog CEO Amitabh Kant, achieving this milestone would transform sectors such as steel, fertilizers, mobility, and heavy transport, and make India a global leader in clean manufacturing and deep decarbonization. Kant emphasized that India’s innovation ecosystem, powered by digital infrastructure, geospatial tools, and AI, will be central to accelerating the green transition.
The National Green Hydrogen Mission, the rapid growth of solar capacity, and falling renewable energy tariffs are converging to make this target achievable. Kant noted that the shift to green hydrogen will also spur new opportunities for Indian entrepreneurs, particularly in the areas of R&D, new materials, recycling technologies, and disruptive green solutions. He urged young innovators to pursue advances in these areas, stating that a circular economy will unlock massive opportunities for startups.
Kant also highlighted the potential economic benefits of India’s green transformation, citing a CEEW report that estimates the creation of 48 million jobs, $4 trillion in investments, and a $1.4 trillion market by 2047. He emphasized that India must avoid replicating the West’s fossil-fuel-driven growth pattern and instead prioritize circularity, the bioeconomy, and green urban design.
India’s stage of development offers a unique advantage, with half the country yet to be built and nearly 500 million people expected to move to cities in the coming decades. This presents a “once-in-history” opportunity to create urban centers that are green, inclusive, and oriented around public transport. Kant stressed that India’s growth model must embed sustainability across infrastructure, mobility, energy, and manufacturing, and that getting this right will enable India to grow fast and responsibly, setting a benchmark for the world.
The CEEW’s Green Economy study identifies 36 opportunities across the energy transition, circular economy, bioeconomy, and nature-based solutions, assessing their potential for jobs, markets, and investment by 2047. These opportunities include circular-economy initiatives such as lithium-ion battery recycling, e-waste and plastic recycling, and the reuse of used cooking oil, alongside a range of bioeconomy solutions. By pursuing these opportunities, India can reduce its dependence on imports, create new jobs and markets, and become a global leader in sustainable growth.