Deforestation and forest degradation have been identified as a key source of global GHG emissions and reducing emissions from deforestation and degradation (REDD) has been identified as an important and low cost method for climate change mitigation. The aim of the present study was to assess REDD as a greenhouse gas reduction option and to assess the potential of REDD in India. SWOT Analysis technique was used for the assessment of REDD while an in-depth literature review, together with quantitative trend analysis for forest degradation using Mann Kendall Test formed the basis for assessment of the Indian situation vis-a-vis REDD. Success of REDD Plus in India lies primarily in the 'plus' component i.e. projects based on conservation and enhancement of carbon stocks and reducing emissions from degradation in specific regions.