India Ranks Second Globally With US$434 Billion Clean Industry Investment Opportunity

India has emerged as the world’s second-largest clean-industry investment opportunity, with a total potential investment of US$434 billion across 61 commercial-scale projects, according to the latest Global Project Tracker released by Mission Possible Partnership (MPP), with support from the Industrial Transition Accelerator (ITA). The findings highlight India’s growing role in the global transition towards low-carbon industrial production, supported by its renewable energy resources, industrial policies and expanding domestic markets.

The report states that India’s clean-industry pipeline comprises US$428 billion in potential investment from announced projects and US$6.6 billion in secured investment from projects that have reached final investment decision (FID) or are already operational. India ranks third globally in terms of the number of tracked projects, behind China and the United States, while its investment opportunity places it ahead of Australia, Brazil and the United States.

Of the 61 projects identified in India, 59 remain at the announced stage, while two have passed final investment decision. These projects cover green ammonia, methanol, sustainable aviation fuel (SAF) and low-carbon aluminium. The announced pipeline represents US$319 billion in potential investment in renewable energy capacity and US$109 billion in industrial assets, highlighting the scale of infrastructure and manufacturing development expected in the coming years.

Green ammonia represents the largest segment of India’s clean-industry pipeline, with 45 projects, including one that has reached FID. The tracker also identifies eight clean methanol projects, six sustainable aviation fuel projects, including one that has passed FID, and two low-carbon aluminium projects. These developments indicate growing interest in establishing low-carbon production facilities that can serve domestic requirements as well as international markets.

India’s progress comes amid increasing global investment in clean industrial development. According to the tracker, 36 clean-industry projects reached final investment decision worldwide over the past 12 months, marking a record for the sector. The growing number of financed projects demonstrates that announced clean-industry developments are increasingly moving towards commercial implementation.

Sustainable aviation fuel is also gaining momentum internationally, accounting for one in two projects that reached FID during the past year. Global SAF production capacity that has passed FID has reached seven million tonnes annually, equivalent to approximately 3% of current fossil-based jet fuel consumption. If all announced projects are developed, the capacity could potentially replace 11% of existing fossil-based jet fuel consumption.

India has six commercial-scale SAF projects in the tracker, including one that has reached FID. IndianOil’s Panipat refinery also received ISCC CORSIA certification for SAF production in August 2025, establishing an important certification requirement for commercial production and participation in the international aviation fuel market.

Yash Kashyap, India Lead at Mission Possible Partnership and the Industrial Transition Accelerator, said India has a significant opportunity to convert its renewable energy advantage into clean industrial facilities. He highlighted that the two projects already past FID demonstrate the commercial potential of such developments. He also noted that the Solar Energy Corporation of India’s green ammonia auction results could help strengthen domestic demand, improve revenue certainty and encourage more projects to reach investment decisions.

The report identifies several requirements for accelerating India’s announced project pipeline, including stronger demand signals, bankable offtake agreements, timely infrastructure development, affordable financing and consistent policy support. Reliable access to low-cost renewable electricity, resilient supply chains and availability of feedstock will also be important for establishing competitive clean-industry facilities.

At the global level, more than 800 developing clean-industry projects represent approximately US$4.8 trillion in investment potential. China secured US$45 billion in financing over the past 12 months, while emerging markets across the new industrial sunbelt attracted US$5.3 billion through six large-scale facilities.

Mission Possible Partnership has identified six key areas for accelerating clean-industry development: clean markets, clean energy, clean supply chains, clean communities, clean trade and clean finance. For India, strengthening these areas could help convert its announced projects into financed and operational facilities.

Successful implementation of the pipeline could support domestic manufacturing, create employment opportunities, improve energy security and strengthen India’s competitiveness in global markets for low-carbon fuels, chemicals and industrial materials.