New Delhi: India's pipeline of low-carbon industrial projects has expanded 30 percent over six months to an estimated USD 433 billion investment opportunity, making it the world's third-largest clean industrial project pipeline by project count, behind only China and the United States, according to the Mission Possible Partnership's (MPP) latest Global Project Tracker.
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The pipeline spans 65 projects across four sectors and 11 states, the tracker found. Of the estimated USD 433.07 billion opportunity, USD 323.5 billion sits in renewable energy and USD 109.6 billion in industrial assets. MPP, a coalition working on industrial decarbonisation, released the findings on Monday alongside the Industrial Transition Accelerator (ITA).
Green ammonia accounts for the largest share, with 49 of the 65 projects, while the tracker also maps green methanol, sustainable aviation fuel (SAF) and low-carbon aluminium. MPP said rising SAF activity points to growing interest in cleaner aviation fuels and potential export opportunities.
The projects are spread across Odisha, Andhra Pradesh, Gujarat, Karnataka, Tamil Nadu, Maharashtra, Rajasthan, Madhya Pradesh, Haryana, Himachal Pradesh and Chhattisgarh. Those tracked include AM Green's Kakinada developments, ACME's green ammonia project in Odisha, Indian Oil's SAF initiatives, NTPC's Pudimadaka proposals and Vedanta's low-carbon aluminium operations in Odisha and Chhattisgarh. Companies featured in the tracker include AM Green, ACME, Avaada, NTPC, Indian Oil, ReNew, Sembcorp, Welspun and Vedanta.
Arnava Sinha, ACME's Executive Vice President of Green Hydrogen and Ammonia, said, "India's green hydrogen story is moving decisively from ambition to delivery, and ACME is proud to be at the forefront." He said the company, as a winning bidder in several of SECI's green ammonia auctions, had "helped establish a market underpinned by assured offtake, transparent price discovery and globally competitive tariffs."
"Our task now is to convert this momentum into commissioned plants and reliable supply at scale, with support from initiatives like the ITA," Sinha added.
MPP said clean industrial investment is accelerating worldwide, with the rate at which projects reach final investment decision (FID) more than doubling over the past year — the fastest pace on record — and China currently leading deployment. Globally, 19 projects reached FID over the six-month period, more than double the previous year. The report also flagged the emergence of an "industrial sunbelt" of renewable energy-rich economies, including India, that could secure a long-term industrial edge as clean manufacturing scales.
"Clean industry is moving from promise to pace, with the number of projects reaching final investment decision more than doubling over the past year," said Faustine Delasalle, CEO of MPP and Executive Director of the ITA. "Countries that build cleaner industrial systems can gain greater control over the essentials of their economies: energy, food, materials, and industrial goods that underpin every dimension of people's lives," she added, arguing that fossil fuel dependence repeatedly exposes economies to price shocks, supply disruption and economic crises.
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Yash Kashyap, India Lead at the ITA, said India is building one of the world's most significant early-stage clean-industry pipelines, with activity now visible across multiple sectors and states. "The opportunity is to move from announcements to execution by accelerating policy support, financing and market demand," he said. "If India can convert its renewable energy advantage into industrial scale, it has the potential to become an important global hub for clean manufacturing, fuels and exports over the coming decade."