An opinion piece in Mint argues that India's Carbon Credit Trading Scheme (CCTS) is a necessary step, but not sufficient for industrial decarbonization. The scheme will issue carbon credit certificates to obligated entities in nine sectors, including steel, cement, aluminum, and fertilizers. Trading will establish an explicit carbon price and help exporters dealing with CBAM in the EU and UK. However, the authors say a price signal alone will not deploy emerging technologies like CCUS, green hydrogen-ready equipment, or industrial electrification. To close the gap, they recommend dedicated support frameworks similar to India's PLI for solar and green hydrogen, expansion of RBI priority sector lending to include industrial decarbonization, updated tax depreciation lists, and a national decarbonization fund funded by existing coal levies and fuel taxes. They also push for finalizing the draft Climate Finance Taxonomy as a foundation for transition finance. Global examples like the UK's East Coast Cluster and Sweden's Hybrit show how shared infrastructure and coordinated public support lower costs.
