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ARTHA

Green Growth:

Powering India’s Industrial

Transformation

I ndia’s growth story is entering a decisive phase, one The second article, “Decarbonizing India’s Steel

Sector”, examines the next frontier of industrial green
where competitiveness, resilience, and sustainability
must advance hand in hand. As the global economy
and the largest Direct-Reduced-Iron (DRI) producer,
pivots toward net-zero pathways, green growth is no transition. As the world’s second-largest steel producer
longer a peripheral agenda; it is the core of India’s next India enjoys a unique structural advantage to lead the
development paradigm. The two articles in this edition of global shift toward hydrogen-based steelmaking. The
Sector in Focus—on Green Hydrogen and Green analysis presents compelling evidence that with the
Steel—capture the emerging contours of this right mix of technology deployment, low-cost hydrogen
transformation and the opportunities that lie ahead for availability, and enabling policy architecture, green steel
Indian industry. could account for over half of India’s total steel
output by 2047. Moreover, the potential export
The first article, “How Green Hydrogen and its Derivatives opportunity, estimated at US$26 billion by 2047,
are Rewiring India’s Energy and Industrial Landscape”, positions India to emerge as a key supplier in a
underscores how green hydrogen has moved from decarbonising global market.
concept to cornerstone within India’s clean-energy
framework. With the Government’s target of producing 5 Both articles reaffirm a critical truth: India’s pathway to
MMT of green hydrogen by 2030, the narrative is shifting Viksit Bharat 2047 will be powered not only by
from vision to execution. Green hydrogen’s role as a innovation and scale but also by sustainability and
versatile, storable, and zero-carbon energy vector extends foresight. The transition to a green economy is no
far beyond power generation—it promises deep industrial longer a policy aspiration, it is an industrial imperative.
decarbonisation in hard-to-abate sectors such as steel, With coherent regulatory signals, market-based carbon
fertilizers, refining, and heavy transport. Yet, the article pricing, and public-private collaboration, India can
rightly cautions that policy clarity, infrastructure convert its renewable resource abundance and
readiness, and assured demand creation will be vital for industrial depth into global leadership in green energy
sustaining investor confidence and accelerating scale-up. and materials.

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