Is there really a buyer for India grown hops or is it just hype from breweries?

There is genuine interest because Indian craft breweries import almost all their hops and would like a local source, but interest is not the same as a firm market, and that is the honest distinction. As of now India grown hops is largely at the trial stage, so there is no established price, no organised mandi, and quality consistency is unproven, which means a brewery may be curious but cautious about committing. If you want to try hops, the sensible path is to get a written offtake interest or partnership from a specific brewery or research project before planting, rather than planting on the general story of import substitution. Treat any promise of guaranteed high returns with suspicion. Realistically this is a pioneering trial crop right now, suitable only for cool hill growers willing to experiment with a buyer lined up.