Indian Offshore Wind Energy sector faces multiple challenges in its development, even after the Government notified the National Offshore Wind Energy Policy (NOWE policy) in 2015. This paper identifies the significant outcomes of the NOWE policy. It analyzes the policy from financial, infrastructural, and environmental aspects, comparing policy instruments and schemes adopted by the UK, Germany, and China using a systematic literature review. The findings for the ineffectiveness of the policy include the lack of differentiation in offshore wind incentives and subsidy schemes from onshore wind, absence of eagerness in the demonstration project, and providing safety in the marine environment. The lessons learned from China, the UK, and Germany are carefully selected and best suited for Indian conditions are suggested to streamline the growth of offshore wind energy.