India to meet its Paris agreement commitments ahead of 2030
Prime Minister said, that India is on track to achieving its climate goals well before the target date as it switches over to energy-efficient mediums and uses waste to generate energy. Speaking after accepting the 2021 CERAWeek Global Energy & Environment Leadership Award for his commitment to energy sustainability and the environment, Modi said climate change and calamity are major challenges facing the world. Both are interlinked, and one way to fight them is through policies, laws, rules, and orders, and the other is bringing behavioral change, he said, listing measures taken by his government for sustainable energy usage.
Ministry of Environment, Forest and Climate change issued following notifications:
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India’s transition to EVs has advanced rapidly in the past few years. A supportive policy environment, improving economics, and emerging business models have poised the EV market for significant growth in the coming decade. Key barriers related to EV adoption—including technology cost, infrastructure availability, and consumer behavior—must be overcome.
NITI Aayog and Rocky Mountain Institute has come out with a report titled “Mobilising Finance for EVs in India”: A Toolkit of Solutions to Mitigate Risks and Address Market Barriers” which identified solutions to direct capital and financing to aid in India’s EV transition.