India will spend $316 billion (about Rs 23 lakh crore) in the decade to 2030 towards de-carbonisation, with a high proportion of the investment to be allocated to renewable sources of energy, a foreign brokerage said on Wednesday. The investment will be in addition to the estimated Rs 6 lakh crore or $84 billion already spent since the country joined the Paris climate accord in 2015, Bofa Securities said.
Speaking to reporters ahead of the Glasgow summit, the brokerage’s head of research Amish Shah said India has been one of the most active states on-ground action and pointed to the fast-paced migration to vehicular emission norms as a case in point.
