India has initiated its green hydrogen mission, but faces challenges in meeting production targets. BloombergNEF analysis indicates that India may only achieve 10% of its 2030 goal based on current progress. Although 1.1 metric tonnes equivalent of green hydrogen production capacity has been tendered so far, many investment proposals are not yet at the binding contracts stage. The lack of green hydrogen consumption mandates and slow project progress might limit production capacity to 0.5 Mt/year by 2030. The government has auctioned 3 GW of annual electrolyser manufacturing capacity, providing flexibility for developers to sell fuel locally or export it. Green hydrogen production costs in India currently range from $3-5/kg, with potential cost reduction to $2/kg with federal subsidies. By leveraging incentives offered by Uttar Pradesh, costs can be further reduced. The economic competitiveness of green hydrogen, with costs competing with grey hydrogen for use in petroleum refineries, opens opportunities for export agreements to advanced economies like Europe and Japan. This export strategy can help producers achieve economies of scale and reduce production costs until the domestic market matures.