India’s recent submission to the UNFCCC on its Long-Term Low-Carbon Development Strategy (LT-LEDS) outlines the country’s approach to low-carbon development. The strategy aims to “promote economy-wide decoupling of growth from emissions and foster the development of an efficient, innovative, low-carbon industrial system.” Achieving these goals will require a broad range of policy instruments, strategies, and measures from both the demand and supply sides.
The project aims to provide evidence-led research for an informed energy and climate policy stance for India. In this project, the team will modify and use the ICRIER Niti/Unnati model to explore two primary questions around India’s LT-LEDS, specifically focusing on the transition to a low-emission industrial sector, which involves a complex mix of strategies such as improving energy efficiency, use of low carbon technologies, fuel switching, etc. The project will focus on assessing (1) the implications for GDP, CAD, fiscal deficit, employment, and social welfare (consumption expenditure) linked to this transition; and (2) the associated financial needs and sources to support the same.
