India is on a transformative journey towards achieving 500 GW of non-fossil-fuel-based capacity by 2030, emphasizing the crucial role of energy storage systems (ESS). With 4.86 GW of ESS capacity in place as of December 2024, including PSPs and BESS, the country envisions a significant expansion to accommodate the increasing share of solar and wind energy. The government's proactive approach includes a long-term trajectory for Energy Storage Obligation and advisory notices on co-locating ESS with solar projects to enhance grid stability. The Battery Energy Storage Systems (BESS) sector in India is witnessing growth, supported by tender auctions and regulatory mandates, with a downward trend in storage tariffs projected by 2030. Recent policy initiatives, like customs tax exemptions and incentives for domestic battery manufacturing, aim to boost the sector further. On the other hand, Pumped Storage Projects (PSPs) remain crucial for long-duration storage, with operational plants and many more in various stages of development across states. The article explores the current status, challenges, and policy interventions around BESS, PSPs, and green hydrogen segments, reflecting a positive sentiment towards India's energy transition. The focus on emerging storage technologies and the government's emphasis on localization and reducing import reliance indicate a promising outlook for the energy storage sector in India.