Abstract

India is faced with the challenge of sustaining its rapid economic growth while dealing with the global threat of climate change. In order to cope with the climate change and to promote India’s economic growth and the energy security, low carbon economy should be adopted. A country’s energy policy will be immediately impacted by a transition towards a low carbon economy. The Government of India is implementing increasingly wide- reaching regulations and incentives to reduce emissions and is preparing adaptation plans and has planned reductions in carbon intensity of its economy by launching various energy efficiency related policies and measures, National Action Plan on Climate Change, REDD+, carbon finance etc. The government is putting in place incentives, fiscal measures and preferential arrangements such as feed-in-tariffs to attract investors and enable projects to be commercially viable. Low carbon development shall take place in the context of sustainable development, in which the priority is to build up resource-efficient and environment-friendly society, as well as innovation-driven nation. A focused approach of policy and reducing bottlenecks in emerging business scenario can go a long way in enabling a Low Carbon Economy.

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