Archive · 20 Jul 2026
India's Green Hydrogen Transition: Key Stocks
India is working towards producing a lot of green hydrogen by 2030.
However, moving hydrogen is tricky because it needs special pipes and tanks.
Three companies, INOX India, Welspun Corp, and Jindal Saw, are preparing for this by making these special pipes and tanks.
INOX India makes cryogenic equipment to store and move hydrogen at very low temperatures.
Welspun Corp makes strong pipes for transporting hydrogen.
Jindal Saw is also making special pipes for hydrogen and is expanding in the Middle East.
These companies are getting ready for a big opportunity, but it's not clear yet how fast hydrogen will be used.
Some people think these companies will do well, while others are waiting to see if hydrogen becomes popular.
India aims to produce 5 million metric tonnes of green hydrogen annually by 2030, requiring significant investment in transportation infrastructure.
INOX India is a leader in cryogenic equipment, essential for storing and transporting liquid hydrogen at -253°C.
Welspun Corp manufactures high-quality pipes suitable for hydrogen transportation and has a strong market presence in the US.
Jindal Saw produces specialized pipes for hydrogen transport and is expanding its manufacturing footprint in the Middle East.
The success of these companies depends on the actual adoption of hydrogen, which remains uncertain.
- Who
- Indian companies INOX India, Welspun Corp, and Jindal Saw
- What
- Investment opportunities in hydrogen transportation infrastructure
- When
- By 2030, as per the National Green Hydrogen Mission
- Where
- India and globally, with a focus on the Middle East and North Africa (MENA) region
- Why
- To support the safe and economic transportation of green hydrogen from production plants to end-users
Optimistic View
Cautious View
Hydrogen Adoption
Optimistic View
The companies are well-positioned to benefit from the growing demand for hydrogen transportation infrastructure.
Cautious View
The actual adoption of hydrogen and the materialization of large-scale orders remain uncertain.
- National Green Hydrogen Mission Target
- 5 million metric tonnes annually by 2030
- Estimated Investment in Hydrogen Transportation
- ₹10 lakh crore
- INOX India's Order Book
- ₹1,514 crore
- Welspun Corp's US Market Share
- Over 30%
- Jindal Saw's Pipe Strength
- 70,000 psi
- INOX India's Export Revenue Share
- 59%
- Welspun Corp's Facility Booking
- Fully booked until FY28
- Jindal Saw's Oman Pipeline
- 400-kilometer network