This report addresses the topic of India’s Green Industrial Policy. It analyses the domestic political motivations for policies that target the solar photovoltaic (PV) and wind energy sector in India. It is argued that the support offered to the industry has come at a relatively low cost, but has also resulted in a slow pace of development – growth has not been sustained. Impacts of renewable energy in the pursuit of energy security and access, avoided health costs for the local environment and in the abatement of GHG emissions are found. The industrial policy element, in comparison, is found to have fared poorly. The impacts on job creation are unclear, and there are large variations in the estimates. It is argued that there is much work to be done in spurring domestic R&D and in ensuring long-term manufacturing competitiveness domestically and their ability to compete in the growing global marketplace for renewable energy.