The ITA India Project Support Programme aims to unlock demand, de-risk finance, and fast-track projects that can shape India’s leadership in clean manufacturing.
A developed India must also be a green India, Jayant Sinha, President, Eversource Capital and former lawmaker, said in an impassioned address on Tuesday.
“To become a Viksit Bharat (developed India), we will also have to work on becoming a Harit Bharat (green India), as they are two sides of the same coin. We don’t just have to simply build a developed India; we need to build an India that’s moving towards green growth, and that is the path to sustainable prosperity,” Sinha noted at the launch of Project Nirman, the Industrial Transition Accelerator’s (ITA) country programme ‘Unlocking India’s Clean Industrialisation Opportunity’.
ITA is a global decarbonisation initiative launched at COP28 to accelerate low-carbon growth across heavy-emitting sectors.
Speaking on the urgent need for industrial decarbonisation, Sinha said, “We are dealing with an incredible, global-sized market failure, which is not pricing the cost of carbon and natural resources. We are not looking at the natural capital that we have, and that is the reason it is depleting day by day.”
He emphasised the importance of targeted policy interventions, global partnerships, and innovations in finance and technology as critical elements in India’s pathway to sustainable prosperity.
Organised by ITA in collaboration with Boston Consulting Group (BCG) and the Confederation of Indian Industry (CII), the day-long session convened key stakeholders to deliberate on how to make decarbonisation commercially viable.
Sinha also released the joint ITA and BCG report, India Insights Briefing: Unlocking India’s Clean Industrialisation Opportunity, on the occasion. The report outlines how clean industrial growth can boost India’s global competitiveness, attract investment, and position the country as a leader in the emerging clean economy. It also identifies bottlenecks to investment and proposes pathways to scale industrial decarbonisation.
Clean Manufacturing Push
The ITA India Project Support Programme focuses on unlocking demand, de-risking finance, and fast-tracking projects that can define India’s leadership in clean manufacturing.
Bartosz Przywara, Counsellor for Energy, Climate Action and Environment at the Delegation of the European Union to India, said clean technology, energy, and green transition are fundamental pillars of EU-India cooperation.
“In clean energy and climate, the EU and India have initiated several joint activities across sectors since 2016, with the EU currently assisting India in establishing a carbon market so that companies that have ventured into green actions can be recognised and awarded for these initiatives.”
James Schofield, Managing Director, ITA, affirmed that India’s commitment to building clean now would not only benefit the country domestically but also support global momentum and present a strong supply of financed clean industrial projects to COP31 in November 2026. He highlighted that India’s 65-project pipeline stands as the third-largest globally.
“With a $150 billion investment potential, it can avoid 160 million tonnes of carbon dioxide annually. This is not just about clean energy; it’s about building the green industries of the future that will power Viksit Bharat 2047,” he said.
Seema Arora, Deputy Director General, CII, said it was now upon the country to decide how best to unlock the opportunity in the next phase of its development.
“The unlock has to happen at various levels, and at the same time, we need to ensure that the fruits of the opportunity are shared with all through improved standards of living and new job creation.”