India Carbon Market Synopsis
India Carbon Market is estimated to gain momentum over the coming years underpinned by various growing factors such as the rising adoption of clean technology and energy efficiency measures. Additionally, the promotion of renewable energy sources and clean technologies are some major drivers of the carbon market, also incentives will be provided for the adoption of clean technology. Under these programmes including corporate social responsibility (CSR) efforts, carbon neutrality goals, and carbon offset projects, many Indian companies are contributing to reducing the carbon rate and adopting sustainability initiatives is likely to boost India Carbon Market share in the country.
According to 6Wresearch, the India Carbon Market size is estimated to augment during the forecast period 2023-2029. The promotion of renewable energy sources and clean technologies are some major drivers of carbon market, also incentives will be provided for the adoption of clean technology. Technology Transfer and Collaboration practices can help India to adopt clean technologies. Additionally, some programmes include corporate social responsibility (CSR) efforts, carbon neutrality goals, and carbon offset projects, many Indian companies are contributing to reducing the carbon rate by start adopting sustainability initiatives. This is estimated to bolster the India Carbon Market growth. Furthermore, many initiatives have been taken by conducting educational initiatives and public campaigns to make the public aware of climate change and carbon emission reduction. These are some significant drivers of the carbon market.
Key Players of the India Carbon Market
Some of the prominent key players in the market are mentioned below. They are operating seamlessly and catering for their customers by providing a top-notch range of products.
- Indian Renewable Energy Development Agency (IREDA): IREDA is a government-owned financial institution that promotes & encourages renewable energy and energy efficiency projects.
- The Energy and Resources Institute (TERI): TERI is a well-renowned research institute that focuses on various aspects of sustainable development.
- Indian Energy Exchange (IEX): While primarily a power exchange, IEX also plays a significant role in trading renewable energy certificates (RECs).
COVID-19 Influence on the India Carbon Market
COVID-19 had left an adverse impact on the India Carbon Market which is a part of the Asia-Pacific carbon market. The shutdown of all industries due to lockdown measures imposed by the government resulted in the Interruption of Carbon Reduction Projects, leading to delays in the project execution. The renewable energy sector faced several challenges supply chain disruptions, labor shortages, and financing difficulties, reducing the widening of the renewable energy sector. The carbon market has seen numerous fluctuations in carbon credit prices, which have made it difficult for businesses and investors to plan carbon mitigation projects.
Key attractiveness of the report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Key Performance Indicators Impacting the Market.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022.
- Major Upcoming Developments and Projects.
- Forecast Data until 2029.
Government Initiatives Introduced in the India Carbon Market
Several government initiatives are presenting the growth of the market. One of the significant initiatives conducted by the National Action Plan on Climate Change (NAPCC), is a government framework that addresses climate change. They emphasize certain aspects of climate mitigation and adaptation. The government offers GST incentives for various energy-efficient and renewable energy products, making them more affordable to encourage their adoption. Renewable Purchase Obligations have made compulsory that a certain per cent of electricity use would come from renewable energy sources. The policy promotes the reduction in carbon levels. Smart Mission is another prominent government initiative that impacts positively market growth, as this policy aims to create green cities by integrating sustainable transportation, and infrastructure with the purpose of reducing carbon emissions.
Key Highlights of the Report:
India Carbon Import Export Trade Statistics
Historical Data and Forecast of India Carbon Market Revenues & Volume By Construction for the Period 2019 - 2029
India Carbon Company Profiles
Historical Data and Forecast of India Carbon Market Revenues & Volume By Engineering Industries for the Period 2019 - 2029
India Carbon Key Strategic Recommendations
Historical Data and Forecast of India Carbon Market Revenues & Volume By Aerospace for the Period 2019 - 2029
Market Opportunity Assessment By Product Types
Historical Data and Forecast of India Carbon Market Revenues & Volume By Diamond for the Period 2019 - 2029
About Us-
6Wresearch is the premier, one-stop market intelligence and advisory centre, known for its best-in-class business research and consulting activity. We provide industry research reports and consulting services across different industries and geographies which provide industry players an in-depth coverage and help them in decision-making before investing or entering into a particular geography.
Contact Us: Phone: +911143024305 | Email Id: sales@6wresearch.com
