Decarbonizing India's Industrial Sector: The USD 1.7 Trillion Roadmap
Key Ideas
  • IIM Lucknow research highlights the need for a $1.7 trillion investment to achieve net-zero emissions in India's industrial sector by 2070.
  • The study focuses on key industries like steel, cement, and chemicals, outlining four potential future scenarios to guide decarbonization efforts.
  • Efforts towards energy efficiency, material recycling, and adoption of technologies like carbon capture and hydrogen are crucial to reducing industrial emissions.
  • India will require international financial support and technology transfers to successfully transition to a low-carbon industrial sector.
A recent study by researchers from IIM Lucknow and Ahmedabad University outlines the roadmap for India's industrial sector to achieve net-zero emissions by 2070, requiring a $1.7 trillion investment. The study emphasizes the critical role of collaboration among industries, policymakers, and global financiers. Key industries such as steel, cement, and chemicals are identified as major emitters of greenhouse gases, necessitating transformative changes towards energy efficiency, material recycling, and clean technologies like carbon capture and hydrogen. Several future scenarios were developed to guide decarbonization efforts, highlighting the importance of policies and technologies in influencing industrial growth and environmental impact. The study underscores the need for urgent action to improve energy and material efficiency, strengthen emission regulations, and establish clear carbon tracking mechanisms. It also emphasizes the importance of financial support and technology transfers from other countries, particularly for emerging technologies like hydrogen-based systems and carbon capture. Overall, the research provides a comprehensive plan for India's industrial sector to reduce emissions significantly by 2050, paving the way for a sustainable and low-carbon future.
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