India's finance panel approves $2.3 billion carbon capture and storage plan to trap 7 million tons of CO2 annually

India's finance panel has cleared a 19,700 crore rupee plan to capture and store carbon emissions from heavy industries like power plants, steel mills, and cement factories. The goal is to trap up to 7 million tons of CO2 each year, with the scheme expected to unlock around 37,500 crore rupees in total investments. A dedicated 2,500 crore rupee R&D fund will support technology innovation, including emerging areas like coal gasification and low-carbon hydrogen production. This is a significant step for India's industrial decarbonization efforts, though the article lacks details on the specific capture technologies, storage sites, and timeline for deployment. The economics of CCS at this scale in India will be closely watched, especially how the finance panel's approval translates into actual project execution and whether the captured carbon is used or permanently stored.