India's Path to Net Zero: Investments, Challenges, and Policy Alignment
Key Ideas
  • Public sector oil major ONGC commits to net zero for Scope 1 and 2 emissions by 2038, focusing on low-carbon initiatives and significant investments in solar.
  • Challenges around green hydrogen viability and offtakers are acknowledged, with emphasis on the need for support and viability gap funding.
  • Transport sector reforms are underway with states aligning with the national net zero goal, emphasizing sustainability and coordination among ministries.
  • Key players in various sectors highlight the importance of localizing technologies, addressing inefficiencies, and attracting investments in green infrastructure.
India is pushing towards a net-zero economy by 2070, with a focus on multiple sectors including transport, energy, fertilisers, and infrastructure. ONGC has set ambitious targets for emissions reduction and investments in solar energy. While green hydrogen is recognized as a game changer, challenges related to viability and offtakers persist. Hindustan Urvarak & Rasayan raises concerns about transitioning to green ammonia in the fertiliser industry. The transport sector is undergoing reforms with a shift towards sustainability and coordination among ministries. Indian Railways aims for 100% electrification by FY26 and explores alternative energy sources like small modular nuclear reactors. Localizing technologies and reducing import dependence are emphasized in R&D efforts. The power sector plays a crucial role in achieving India's net zero goals by addressing inefficiencies and enhancing grid connectivity. Investor interest in green infrastructure, renewables, EVs, and green data centres is on the rise, indicating a positive trend towards sustainable investments.
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