The Global Hydrogen Price Index is an initiative set to develop a benchmark for hydrogen pricing and facilitate a global hydrogen trading platform. Announced on January 17, 2024, this project is a collaborative effort involving the Indian Gas Exchange, Gujarat State Petroleum Corporation, and the International Financial Services Centre at GIFT City, Gandhinagar. The purpose of the index is to aid in price discovery and provide market information, essential for the growing hydrogen economy. It aims to bring transparency and foster growth in the hydrogen market, though it faces challenges like implementation complexity and market uncertainty. The way forward includes developing infrastructure like refueling stations and pipelines, and advancing hydrogen-related technologies for different sectors.