[20] INDIA’S EMERGING CARBON MARKET ECOSYSTEM: REGULATORY EVOLUTION, MARKET INSTITUTIONS AND FINANCING PATHWAYS
How to Cite : Hrishikesh Upadhyaya, Chandinee Goswami & Moirangthem Momocha Singh (2026). India’s Emerging Carbon Market Ecosystem: Regulatory Evolution, Market Institutions and Financing Pathways. International Journal of Multidisciplinary Research & Reviews, 5(8),206-221. https://doi.org/10.56815/ijmrr.v5i8.2026.206-221
Abstract
The world is now facing a great challenge due to climate change, therefore, most countries are adopting carbon markets to reduce their greenhouse gas emissions and help with the global goal of creating a sustainable environment. As India’s economy is growing significantly fast and also it is considered to be strong contributor to greenhouse gas emissions, it has taken a significant step of launching its regulatory carbon market to meet the netzero emission goals by 2070. This study assesses the national readiness regarding its carbon market. For understanding it, secondary data have been collected from Government reports, official circulars issued by regulating agencies, policy documents, research papers and global climate reports. Prior to the launch of this regulatory market, India has seen other market based frameworks like the Perform, Achieve and Trade (PAT Scheme) and Renewable Energy Certificates (RECs). This study also highlights the growing role of institutions, industries and monitoring frameworks that significantly assist in implementation of this regulatory market. Finally, the study discusses the framework and operational structure of carbon markets operating in Europe and China, that helps understand the possibilities and challenges for India. Overall, India has utmost capacity to develop a successful carbon market that would facilitate clean and sustainable growth in energy, transformation of industries, and sustainable economic development.
