India to attract large investments due to COP26 commitments: ICRA

The commitments on emission control made by India at the recent Glasgow COP26 summit are expected to benefit the country in the long-term with new technologies in energy efficiency, carbon reduction and green fuels, rating agency ICRA NSE 0.05 % said adding this is likely to attract investment in billions across sectors.

ICRA, in its recent research report, has analysed India’s commitment in two phases – up to 2030, and the net-zero target for 2070.

Being a developing country, which is at an inflection point in terms of its energy consumption, the nation’s per capita energy consumption is expected to surge 3x-4x over the long term. Parallel to this, India has also committed to reducing greenhouse gas (GHG) emissions by 1 bn MT by 2030.