India’s industrial sector faces a $1.7 trillion investment challenge to achieve net-zero emissions by 2070, according to a joint study by IIM Lucknow and Ahmedabad University. Published in Applied Energy, the study offers a detailed roadmap to decarbonize key industries like steel, cement, aluminum, chemicals, and textiles, which account for 22% of the nation’s greenhouse gas emissions. 

The report emphasizes the dual challenge of reducing fossil fuel dependence while maintaining economic growth. Key strategies for achieving a carbon-neutral industrial sector include improving energy efficiency, advancing material recycling, and adopting clean technologies like carbon capture and hydrogen-based systems. These measures align with India’s broader ESG and carbon-neutral strategy, essential for sustainable economic development. 

Assistant Professor Dipti Gupta of IIM Lucknow highlights that India’s rapid economic growth requires unprecedented action to transition industries. Decarbonization will necessitate international finance, innovative business models, rapid technology deployment, and standardized emission reporting. 

The study outlines four scenarios for future emissions: Business-As-Usual, Development First, Carbon Neutral, and the action-driven Synchronous (SYNCH) scenario. Under SYNCH, industrial emissions could be reduced by 63% by 2050 with substantial investments in clean energy, advanced recycling systems, and carbon capture technologies. 

India’s path to sustainability hinges on global collaboration. The report stresses the importance of international support for technology transfer and funding to scale clean solutions. While technologies like carbon capture and hydrogen systems are still evolving, they must grow robustly to support a low-carbon industrial future. 

This ambitious transition reaffirms India’s commitment to achieving net zero by 2070. By aligning with ESG principles and investing in sustainable practices, India aims to drive industrial growth while minimizing environmental impacts, setting a global example in sustainable development. 

Sources: 

https://thecsruniverse.com/articles/indian-industry-requires-1-7-trillion-to-achieve-net-zero-by-2070-reveals-iim-lucknow-study 

https://www.educationtimes.com/article/newsroom/99737118/-1-7-trillion-investment-required-for-indias-industry-to-achieve-net-zero-by-2070-says-iim-lucknow-faculty-research 

https://thelucknowtribune.org/iim-lucknow-research-proposes-1-7-trillion-investment-for-net-zero-emissions-in-indias-industry-by-2070/ 

https://www.fahrdienst-krostitz.de/ylosta/2024/12/06/He156450xY20eOsd.html