The major challenge in modern era of globalization is to keep the natural environment safe as well as satisfy and retain the consumers. With the ever increasing environmental problems all over the world there is a need to protect the natural environment of the earth. Consumers today are aware of various environmental issues and problems and they are actively participating to reduce their impact on environment by going for green products. Green Marketing is an emerging branch of marketing which focuses on environmental protection along with the customer satisfaction. Green marketing has developed very important concept in modern market. The paper describes the current Scenario of Indian market and explores the major challenges and opportunities businesses have with green marketing. Why green marketing is gaining so much attention among the companies. The paper focuses on how green marketing plays a dual role of environmental protection on one hand and customer satisfaction and retention on other hand.