As India sets ambitious targets to become a $40 trillion economy by 2047 and achieve net-zero emissions by 2070, the country faces the challenge of financing its energy transition. To meet its green targets, India needs to mobilize $170 billion annually by 2030, nearly three times the current investment levels in renewable energy, electric mobility, green hydrogen, and industrial decarbonization. The government is working on a strategic approach to address this challenge by building an institutional spine for green finance and unlocking India's capital markets. The plan includes creating a green-focused subsidiary under NaBFID, with discussions leaning towards setting it up in GIFT City, Gujarat—an international financial hub under the IFSCA. While this move could attract global investment, concerns have been raised about NaBFID's capacity and sectoral expertise in cleantech. India also faces hurdles in channeling savings into green growth, with structural barriers impeding equity investment in cleantech and the sovereign’s green bond program struggling to gain investor interest. The lack of clarity on what constitutes 'green' finance is another challenge, prompting initiatives for developing a formal green taxonomy. Overall, despite the hurdles, India's approach to green finance signals a positive shift towards addressing climate challenges through innovative financial solutions.