India imports approximately 30% of its urea needs, around 8–9 million tonnes annually. With international urea at $700/t during the West Asia War shock, the government’s subsidy bill per imported tonne has exceeded Rs 75,000. At this price level, green urea produced from domestic green hydrogen at $4/kg is cost-competitive with subsidised conventional urea on a total delivered basis, years ahead of where analysts placed the break-even in 2023. This article maps the arithmetic, the policy implications, and what it means for the HPO mandate.