India Planning Investment For Decarbonisation By 2030: Bofa Securities

India is planning to spend $316 billion this decade on decarbonization. The major part of the investment will be allocated to renewable sources of energy. The investment is made as an addition to the already spent estimate of Rs 6 lakh crore or $84 billion ever since the country joined The Paris Climate Accord in 2015. 

Amish Shah, the brokerage's head of research has praised India’s effort towards fast-paced migration to vehicular emission norms. Unlike other nations that have already declared a target for achieving zero emission, India has not made any sort of announcement in this segment. 

The investment will be distributed among shifting the renewable sources of energy, expanding the rail freight capacity, and metro projects across the urban centres. This investment will help India to save energy and cut carbon emissions by 1.1 billion tonnes by 2030.