India's Green Hydrogen Race: Who's Leading?

India aims to become a global green hydrogen production hub, targeting 5 million metric tonnes annually by 2030 with substantial renewable energy capacity and investments. The government's commitment includes a ₹19,744 crore outlay until FY30, with a significant portion for electrolyzer manufacturing. This foundational work supports the transition from policy announcements to tangible project execution. Waaree Energies is investing ₹657 crore to build a 1 GW electrolyzer plant in Gujarat, expected to be commercialized by FY27. The company is developing a comprehensive value chain, from manufacturing to supplying green derivatives. JSW Energy, through its subsidiary JSW Neo, has commissioned a 3,800 TPA commercial green hydrogen plant. This facility is already secured by a seven-year offtake agreement for both green hydrogen and oxygen, ensuring immediate utilization. Advait Energy Transitions is expanding its electrolyzer assembly capacity to 100 MW by Q4FY27, focusing on localization of technology and components. The company has secured a ₹1,304 crore order book, with a projected increase to ₹1,600 crore by the end of FY27. These companies are at the forefront of India's green hydrogen sector, with Waaree building an integrated ecosystem, Advait focusing on localization and manufacturing, and JSW Energy demonstrating commissioned capacity with clear offtake agreements.