Prime Minister Narendra Modi said India would aim for net zero carbon emissions by 2070 — two decades beyond the target set by COP26 organizers.
Around 50% of its energy needs would come from renewable sources;India will reduce carbon intensity of its economy by less than 45%.
It does need a lot of strategical planning and planning is the word. It is not going to happen just because the announcement is made.By 2070, India will also be a comparatively richer country with a much higher per capita income that will create the fiscal space needed for the transition, said Vaibhav Chaturvedi, an economist with climate think-tank Council on Energy, Environment and Water.
"It does need a lot of strategical planning and planning is the word. It is not going to happen just because the announcement is made," Chaturvedi said. "A lot of sectoral actions, policy planning and intervention has to be there." Chaturvedi explained that India has to navigate potential challenges — such as ensuring that coal workers are not left behind, energy prices do not rise in the near term and getting the state governments on board. Power distribution reforms are also "absolutely necessary" to pave the way for the transition to happen.India will likely target the power sector first, according to Chaturvedi. The country has already made headway in its push for renewable energy through solar and wind.
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