In this work, the role of In2O3 in a heterojunction with TiO2 is studied as a way of increasing the photocatalytic activity for gas-phase CO2 reduction using water as the electron donor and UV irradiation. Depending on the nature of the employed In2O3, different behaviors appear. Thus, with the high crystallite sizes of commercial In2O3, the activity is improved with respect to TiO2, with modest improvements in the selectivity to methane. On the other hand, when In2O3 obtained in the laboratory, with low crystallite size, is employed, there is a further change in selectivity toward CH4, even if the total conversion is lower than that obtained with TiO2. The selectivity improvement in the heterojunctions is attributed to an enhancement in the charge transfer and separation with the presence of In2O3, more pronounced when smaller particles are used as in the case of laboratory-made In2O3, as confirmed by time-resolved fluorescence measurements. Ternary systems formed by these heterojunctions with silver nanoparticles reflect a drastic change in selectivity toward methane, confirming the role of silver as an electron collector that favors the charge transfer to the reaction medium.