Crisil Projects ₹31 Lakh Crore Green Investments in India by 2030 to Achieve Net-Zero Targets
Source：solarquarter
India is poised to witness a five-fold increase in green investments, reaching approximately ₹31 lakh crore between 2025 and 2030, as announced by Crisil during its flagship India Infrastructure Conclave 2025 held in New Delhi. This surge in investments forms a crucial component of the estimated ~$10 trillion required by 2070 to meet India’s net-zero targets under the Updated First Nationally Determined Contribution (NDC) of the Paris Agreement.
Among the pivotal commitments outlined in India’s NDC is a targeted 45% reduction in the carbon intensity of GDP by 2030, compared to 2005 levels, alongside achieving a 50% share of installed power capacity from non-fossil-fuel-based energy resources by the same year.
Amish Mehta, Managing Director & CEO of Crisil Limited, stated, “As the fastest-growing large economy, India has a unique opportunity to balance developmental and environmental priorities. Our energy demands will continue to rise, making a balanced transition to net-zero imperative. Based on government and corporate plans, and progress made so far, we estimate ₹31 lakh crore in green investments through 2030. Accelerating grants, scaling blended finance with multilaterals, and flexible policy support for carbon market development and industrial decarbonisation are critical to achieving these goals.”
The projected ₹31 lakh crore green investments are expected to be distributed as follows: approximately ₹19 lakh crore for renewable energy and storage, ₹4.1 lakh crore for the transport and automotive sectors, and ₹3.3 lakh crore for the oil and gas sectors.
The annual Crisil Infrastructure Conclave provides stakeholders a platform to discuss and generate ideas, actions and reforms to drive India’s build-out. The theme this year is ‘Navigating India’s decarbonisation journey’, with focus on three dimensions – sectoral decarbonisation pathways and challenges; greening infrastructure and urban mobility; and financing of decarbonisation.
The Union Minister for New and Renewable Energy, Shri Pralhad Joshi, unveiled the Crisil Infrastructure Yearbook 2025, accompanied by policymakers, financiers, industry leaders, and representatives from funding agencies. The yearbook features the Crisil InfraInvex, a national index that has tracked the investability of infrastructure sectors since 2017. The latest scores indicate stable or improving momentum across most of the 12 tracked sectors, with renewables, conventional generation, transmission, and distribution performing particularly well due to favorable policies and investment opportunities.
However, mining and the EV ecosystem saw a decline in investment attractiveness. The mining sector requires greater emphasis on critical minerals, while the EV ecosystem awaits new policy interventions.
While funding for established technologies such as solar and wind power, as well as two-wheeler EVs, is readily available through banks, development finance institutions, and bond markets, emerging technologies face hurdles. Government grants and incentives are essential for high-risk projects such as green hydrogen, carbon capture, utilisation and storage (CCUS), and advanced energy storage systems.
The reliance on equity will be significant, with the private sector, specialized climate and venture funds, and multilateral organizations playing a more prominent role. Additionally, blended finance models and first-loss guarantee structures facilitated by multilaterals will be crucial to enable the scaling of these technologies during their early stages.
Rahul Prithiani, Senior Director & Global Head, Energy and Sustainability at Crisil Intelligence, emphasized, “India must balance economic growth, energy security, and environmental sustainability. Overcoming financing gaps and technological barriers through innovative funding is essential. Corporates must enhance ESG and sustainability-linked disclosures to align with evolving banking norms driven by the Reserve Bank of India.”
Transforming decarbonisation into a key driver of the country’s growth strategy will require a concerted effort from the government, private sector, funding institutions, industry associations, and developmental agencies. Additionally, international collaboration can play a significant role by fostering partnerships for technology transfer, concessional financing, and expertise sharing through initiatives like the International Solar Alliance.