India is the third largest CO2 emitter in the world and the ascending trend has not shown clear signs of leveling off. Electricity generation is the most important contributing sector. This paper examines the role of CO2 capture, utilization and storage (CCUS) in decarbonizing India's electricity. We build a source-sink matching optimization model and unlike previous research, include transport by ship to overseas CO2 storage sites. We initialize the model with open-source data on power sector emissions and sinks to work out the least-cost solutions for achieving various CO2 matching scenarios. CO2 can be captured in fossil-fuel-fired power plants in India, while the utilization and storage could be either within or beyond the country's border. We assess the potential chain of shipping CO2 to the Middle East for enhanced oil recovery and CO2 storage. The economics of such international CCUS chains may affect the role of CCUS in India's decarbonization scenarios. We provide first order estimates of costs and conditions to make such a proposition attractive. The model is available with an open-source license and is customizable to include additional sources, onshore and overseas sinks, and shipping terminals.