The Industrial Transition Accelerator (ITA), a global multi-stakeholder initiative launched at COP28, has officially unveiled its India Project Support Programme, aimed at accelerating the country’s clean industrial transformation. The announcement coincides with the release of ITA’s India Insights Briefing, “Unlocking India’s Clean Industrialisation Opportunity,” developed in collaboration with Boston Consulting Group (BCG).
The briefing highlights India’s potential to unlock over $150 billion in investment and 200,000 clean jobs by advancing 65 commercial-scale clean industrial projects to the investment stage. These projects collectively represent 160–175 million tonnes of annual CO₂ equivalent abatement, underscoring India’s growing leadership in sustainable industrial growth.
Accelerating Clean Industrial Growth
The India Project Support Programme will help advance flagship clean industrial projects toward investment readiness, focusing on decarbonising sectors such as chemicals, steel, cement, aluminium, aviation, and shipping.
The initiative aims to address structural challenges such as high capital costs, uncertain clean demand, regulatory hurdles, and underdeveloped infrastructure that currently prevent most projects from reaching the Final Investment Decision (FID) stage.
India’s Clean Industrial Potential
The India Insights Briefing reveals that India now holds the world’s third-largest pipeline of low- and near-zero-emission industrial projects, following China and the U.S. Despite this impressive progress, only six projects have achieved FID so far.
Key findings include:
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65 commercial-scale clean projects mapped across major industrial sectors.
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$150 billion in potential investments in sustainable infrastructure.
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Over 200,000 direct and indirect clean jobs anticipated.
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160–175 million tonnes of CO₂ equivalent abatement annually.
These projects are concentrated across Odisha, Andhra Pradesh, Karnataka, Gujarat, Rajasthan, Maharashtra, and Tamil Nadu, positioning these regions as emerging clean industrial hubs with strong renewable energy availability, port connectivity, and enabling state policies.
Sector-Wise Insights
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Chemicals: Nearly 80% of India’s clean industry pipeline comes from this sector, with 50 clean ammonia and methanol projects representing 30–35 MTPA capacity — exceeding the National Green Hydrogen Mission’s 5 MTPA target in hydrogen-equivalent terms.
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Steel: Four large-scale projects and several pilots in hydrogen-based reduction and carbon capture technologies are underway, including a 4 MTPA low-carbon project in Maharashtra.
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Cement: Producers are piloting low-carbon cement (LC3) and carbon capture technologies while targeting 25–30% thermal substitution by 2030.
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Aviation: Three Sustainable Aviation Fuel (SAF) projects show strong export potential, supported by HEFA and alcohol-to-jet pathways.
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Aluminium: Five renewable-powered smelters and low-emission plants could substantially reduce sectoral emissions, contingent on grid and storage expansion.
Addressing Investment Barriers
According to ITA, the major barriers to investment now stem from market formation challenges rather than technical feasibility. A lack of long-term offtake contracts, limited access to blended finance, and lengthy approval processes constrain project bankability. Export competitiveness is also challenged by Europe’s Carbon Border Adjustment Mechanism (CBAM), which could impose additional costs on Indian steel and aluminium exports.
The India Project Support Programme will directly tackle these obstacles by promoting clean demand creation, enabling shared infrastructure for hydrogen and carbon transport, improving project viability through de-risking mechanisms, and aligning policy and finance frameworks across markets.
Global Context and Significance
India’s initiative comes amid a global surge in clean industrial development. According to the Mission Possible Partnership (MPP)’s Global Project Tracker, there are now 1,001 commercial-scale clean industrial projects underway globally across aluminium, cement, chemicals, fuels, and steel. India’s dynamic pipeline positions it as a critical player in the emerging industrial sunbelt, where renewable resources and policy frameworks drive sustainable manufacturing.
Leadership Perspectives
James Schofield, Managing Director, Industrial Transition Accelerator, stated:
“India’s industrial transition is central to both its growth objectives and the wider global decarbonisation effort. With one of the largest project pipelines worldwide, the challenge is no longer vision; it is execution. The India Project Support Programme will focus on unlocking demand, de-risking finance, and fast-tracking projects that can define India’s leadership in clean manufacturing. India’s commitment to build clean now would not only benefit the country domestically but also assist global momentum and present a strong supply of financed clean industrial projects to COP31 in November 2026.”
Sumit Gupta, APAC Leader – Climate & Sustainability Practice, Boston Consulting Group, said:
“India stands at a defining moment in the global clean industrial transformation. With a strong foundation of projects and growing private-sector momentum, the country is well placed to lead in scaling new low-carbon technologies. The opportunity spans clean fuels, green materials, and emerging manufacturing value chains. The ITA India Project Support Programme can help mobilise stakeholders and accelerate the next wave of investment-ready projects.”
Yash Kashyap, India Lead, Industrial Transition Accelerator, added:
“The next 24 months will be decisive in determining which of India’s clean industry projects move from plans to plants. The pipeline is strong, the private sector is ambitious, and the policy base is taking shape. Our focus is to integrate these elements, aggregate demand, standardise bankable contracts, and build shared infrastructure to get projects investment-ready.”
Towards a Clean Industrial Future
With the India Project Support Programme, ITA aims to catalyse a new phase of industrial decarbonisation by bringing together policymakers, financiers, and industry leaders to move from ambition to action. The initiative is expected to play a crucial role in realising India’s Net Zero 2070 goal, while positioning the country as a global leader in sustainable manufacturing and green innovation.
