- India needs to strategically reduce its reliance on carbon based resources specially coal. For this it needs to expand its installed renewable capacity, develop a resilient grid network and increase electricity storage capacity. This will help in developing reliable supply of electricity, which is often an issue with renewable based electricity supply.
- The major chunk of coal based electricity is used to power the cement, steel plants and other construction related activities. India needs to make its construction and manufacturing sectors more sustainable and greener. It needs to decommission coal powered manufacturing units and replace it with solar or wind. This also becomes relevant because today global consumers prefer carbon clean products and countries are imposing carbon tax on imports. Therefore India needs to realign its construction and manufacturing sectors with international trends of sustainability and environment friendliness.
- All these measures are feasible only with heavy upfront investments. Therefore, it is important for Indian policy makers to promote investments in climate friendly infrastructure projects. It is equally important to simplify the regulatory and administrative process, which often discourages foreign investors. So broadly if I may put it there needs to be a positive ecosystem for investing in climate friendly infrastructure.
- I strongly feel that developing countries like India cannot fully rely on developed world for transfer and sharing of technologies. The harsh reality of international relations is that countries actions are guided by their self-interests. Therefore, India has to develop its technology and invest in research & development. I am not pessimist about international cooperation but post pandemic India should be “Aatm Nirbhar”.