The report 'The H2ERO of Net Zero?' by SBI CAPS highlights the importance of increased usage of hydrogen for deep decarbonisation in industries that are hard to decarbonise. It emphasizes the shift from grey to green hydrogen as a key factor in accelerating the growth of hydrogen consumption. One of the main challenges identified is the high cost associated with green hydrogen production, underscoring the necessity for more incentives to align the costs with grey hydrogen. India is recognized for its inherent advantages in green hydrogen production, with initiatives like Green H2 hubs and SIGHT schemes positioning the country as a leader in this sustainable energy sector. The report estimates that investments of Rs. 8-10 trillion will be required by 2030 to build a robust Green H2 ecosystem. It also stresses the need for the financing ecosystem to adapt and support this significant opportunity. Overall, the report signals a positive outlook on the potential of green hydrogen in India, while acknowledging the barriers that need to be addressed for its widespread adoption and contribution to achieving net zero emissions.