Towards A Sustainable And Resilient Future

The focus on leveraging green energy, including the initiative for rooftop solarisation to provide 300 units of free electricity monthly to 1 crore households, not only promises significant savings for the Indian populace but also aligns with the global mandate towards achieving net zero emissions. Integrating it with the carbon credits mechanism, which is under development in the country, will prove to be feasible for its own funding.

The allocation of Rs 1 lakh crore corpus for interest-free financing for R&D in the sunrise domains—the emerging industries of innovation likely to grow rapidly—will prove a milestone in the climate action of India. The advancement of electric vehicle (EV) policies related to infrastructure, especially the development of green energy infrastructure, underscores a pivotal shift towards sustainable economic growth.

The emphasis on coal gasification and liquification, alongside the innovative measures for biomass and compressed biogas, marks a critical step in reducing dependency on imports and fostering energy security. It will reduce the upstream supply chain uncertainties for entrepreneurs working on biofuel manufacturing, making this country energy and carbon secure.

Viability gap funding for 1GW offshore wind energy exemplifies India's commitment to renewable growth and marrying economic development with environmental care.

The government's investment in the blue economy and bio-manufacturing demonstrates a holistic approach to leveraging India's natural resources responsibly.
It is exciting to visualise the entrepreneurship and employment opportunities these initiatives will generate while aggressively working for the planet and being fully committed to supporting India's journey towards a sustainable and resilient future.

(Manish Dabkara is Chairman and MD, EKI Energy Services Ltd., and President, Carbon Markets Association of India.)