Green hydrogen.
Green hydrogen has the potential to reshape where industrial production happens globally and let India monetize its renewable energy resources on international markets, according to a new commentary from Krishan Rattan, founding partner of global investment firm Terra Invest.
"India's sunshine could become part of an industrial product bought on the other side of the world," Rattan writes, noting that renewable electricity converted into hydrogen can, in turn, be converted into internationally traded goods such as ammonia or hydrogen-reduced iron.
Rattan predicts the most significant trade flows will center on finished industrial goods rather than raw energy or hydrogen itself: "I expect some of the most interesting trade to emerge where a product arrives ready to perform its industrial function."
The commentary cites the government's National Green Hydrogen Mission, which has allocated Rs 19,744 crore, including Rs 17,490 crore for the SIGHT programme backing electrolyser manufacturing and hydrogen production - a pairing Rattan calls foundational: "is how lasting industries begin."
Citing the International Energy Agency's Global Hydrogen Review 2025, Rattan points to established industrial hydrogen users - refining and chemicals - as the logical entry point for scaling demand. He also identifies the Gulf as a strategic partner, given its renewable resources, port infrastructure, industrial base and capital, and recommends India build industrial clusters to concentrate engineering and equipment expertise.
"Exporting sunshine would then mean exporting Indian capability along with it," Rattan concludes.
About Terra Invest
Terra Invest (Terra Vision Investments LLC) is a global investment firm operating at the intersection of capital, public policy, academia and governance, with investments spanning AI, financial services, healthcare, green energy and infrastructure across India and the Middle East. The firm maintains offices in London, Dubai, Abu Dhabi, Miami and Singapore. Full commentaries are available at terra-invest.com/insights.
