India needs $1.5 trillion to meet 2030 climate and energy goals: Deloitte
The report, titled The Climate Response: Tapping into India's Climate and Energy Transition Opportunity, highlights the scale of capital needed across renewable energy, biofuels, decarbonisation efforts, and sustainable infrastructure to meet the country's climate goals.
To reach the government's target of 500 GW of non-fossil capacity by 2030, Deloitte estimates a required investment of $200–250 billion, spanning areas such as advanced manufacturing, grid integration, and system expansion.
As of now, India's total non-fossil fuel capacity stands at 242.8 GW, accounting for about half of the country's total installed capacity of 484.8 GW. This includes 184.62 GW of renewable power, 49.38 GW from large hydro projects, and 8.78 GW of nuclear energy.
The report also notes that expanding India's renewable energy capacity must be accompanied by a significant scale-up in energy storage infrastructure—by nearly eight times—which would require an estimated $250–300 billion in capital expenditure by FY30.
Mandates on ethanol blending, sustainable aviation fuel, and the adoption of green hydrogen are expected to drive additional investments of $75–80 billion in biofuels and $90–100 billion in green hydrogen, Deloitte said.
'This investment will reduce emissions, boost job creation, enhance energy security and protect vulnerable communities from climate risks. Financial instruments, such as green bonds, climate funds and blended finance models, are important in mobilising capital for sustainability initiatives,' said Viral Thakker, partner and sustainability and climate leader, Deloitte South Asia.
He added that unlocking investment at scale and ensuring equitable access to climate finance would help build long-term resilience in India's most climate-sensitive sectors. 'By strategically harnessing climate finance, India can accelerate its decarbonisation efforts, offering immense investment potential in sectors poised for sustainable growth and innovation,' Thakker said.
Prashanth Nutula, partner, Deloitte India, said, 'To accelerate its climate journey, India must further strengthen its commitment to integrating renewable energy, biofuels and advanced technologies into a cohesive, sustainable energy ecosystem. This must be supported by investments in energy storage, infrastructure and grid reliability while prioritising inclusive growth."
He also emphasised the need to focus on climate-vulnerable sectors beyond energy. "A comprehensive strategy that aligns infrastructure, waste management and digital transformation will be crucial in creating resilient, future-ready communities and positioning India as a true pioneer in sustainable development,' Nutula added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
11 hours ago
- Indian Express
India's gross GST collections rise by 7.5% YoY in July to Rs 1.96 lakh crore, refunds surge 66.8% to Rs 27,147 crore
Gross Goods and Services Tax (GST) collections rose 7.5 per cent year-on-year to Rs 1.96 lakh crore in July (for sales in June), data released by the government on Friday showed. Even though the pace of growth in gross GST collections picked up to 7.5 per cent in July from 6.2 per cent, this is the second consecutive month wherein the growth rate has been in single digits and much lower after posting double-digit growth in the first two months of the ongoing financial year. Net GST collections, after accounting for refunds, took a hit by growing by just 1.7 per cent to Rs 1.69 lakh crore in July as refunds jumped sharply by 66.8 per cent, the data showed. In the previous month, net GST collections had risen 3.3 per cent. Total refunds stood at Rs 27,147 crore in July, sharply up by 66.8 per cent YoY. While domestic refunds grew 117.6 per cent YoY to Rs 16,983 crore in July, refunds for imports were up 20 per cent to Rs 10,164 crore. In June, total refunds had risen 28.4 per cent to Rs 25,491 crore, with domestic refunds rising 14.1 per cent YoY to Rs 12,643 crore, while refunds on imports rose 46.4 per cent YoY to Rs 12,848 crore. The trend of slower growth was also visible in GST collections on the imports front as they increased sequentially but the pace of year-on-year growth slowed down in July. GST collections from imports rose 9.7 per cent year-on-year to Rs 52,712 crore in July as against 11.4 per cent growth seen in June at Rs 45,690 crore. The revenue collections were better on the domestic front, with GST collections rising 6.7 per cent to Rs 1.43 lakh crore in July, up from 4.6 per cent growth at Rs 1.39 lakh crore in the previous month. What experts are saying Experts said the muted growth in net revenue is mainly due to a pickup in GST refunds. MS Mani, Partner, Deloitte India, said, 'While GST revenues for the past few months have been on an upward trajectory, the muted increase of 1.7 per cent in the net GST collections for the month and 8.4 per cent during this year can be attributed to the increased refunds. During the month, domestic refunds have more than doubled compared to the same month last year and during the current year refunds have increased by 46 per cent. This increase in refunds augers well for businesses as it indicates stability in the online refund processes and quicker refund sanctions,' he said. Abhishek Jain, indirect tax head and partner, KPMG said, 'Higher refunds on domestic supplies could be from excess tax payments, inverted duty structures, and other adjustments. The increased refunds should aid cash flows for businesses.' State-wise GST collections in July State-wise data for July showed that out of 38 states/Union territories, 20 states/UTs recorded higher growth in gross GST collections than the national average of 7.5 per cent growth rate. In absolute terms, Maharashtra was at the top with collection of Rs 30,590 crore (6 per cent growth), followed by Karnataka with collection of Rs 13,967 crore (7 per cent growth), Gujarat with collection of Rs 11,358 crore (3 per cent growth), and Tamil Nadu with Rs 11,296 crore (8 per cent growth). States/UTs which recorded a contraction in GST collections in July included: Jammu & Kashmir at Rs 599 crore (-5 per cent), Chandigarh at Rs 221 crore (-5 per cent), Manipur at Rs 43 crore (-36 per cent), Mizoram at Rs 31 crore (-21 per cent) and Jharkhand at Rs 3,040 crore (-3 per cent). The gross Central GST (CGST) — the tax levied on intra-state supplies of goods and services by the Centre — collections stood at Rs 35,470 crore, State GST (SGST) — the tax levied on intra-state supplies of goods and services by the states — collections were Rs 44,059 crore, while Integrated GST (IGST) — the tax levied on all inter-state supplies of goods and services — collections stood at Rs 1.04 lakh crore and cess at Rs 12,670 crore during the month. Aanchal Magazine is Senior Assistant Editor with The Indian Express and reports on the macro economy and fiscal policy, with a special focus on economic science, labour trends, taxation and revenue metrics. With over 13 years of newsroom experience, she has also reported in detail on macroeconomic data such as trends and policy actions related to inflation, GDP growth and fiscal arithmetic. Interested in the history of her homeland, Kashmir, she likes to read about its culture and tradition in her spare time, along with trying to map the journeys of displacement from there. ... Read More
Time of India
2 days ago
- Time of India
How CIOs are turning L&D into a strategic tech lever
In a world where technology evolves at breakneck speed, it's no longer the tools but the talent that determines how far a company can go. The CIO's dashboard has traditionally been filled with systems, platforms, and infrastructure. Today, one more strategic lever is gaining prominence: Learning & industries confront the dual challenges of technology acceleration and talent shortages, a clear shift is underway. Eventually, organizations are faced with real questions about what right or perhaps wrong they are doing to address the unforeseen challenges of balancing workforce readiness and revenue expectations 'To build an AI generation, CIOs must leverage learning and development as a strategic engine that fuels digital fluency, mindsets, ethical innovation, and a culture of continuous transformation,' says Kishore, CIO at Amara Raja Group. 'Seventy percent of AI success hinges on people.' According to a 2024 Deloitte study, 94% of business leaders say they expect employees to pick up new skills on the job. Yet fewer than half believe they are ready to support this learning at scale. The gap presents both a risk and an opportunity. For CIOs, the imperative is clear: L&D must evolve from a checkbox to a change maker. This shift is already underway in forward looking organizations. Modern L&D is being infused with the same innovation mindset that CIOs apply to product development or customer experience. 'Modern L&D is evolving beyond static courses to immersive, hands-on experiences,' says Vishal Bhatia, Digital and Innovation Leader at Canada Bank. 'AR/VR simulations are being used for onboarding and scenario-based compliance training, while L&D hackathons enable teams to co-create real-world digital solutions. With AI-led personalization and cloud based LXPs, learning is becoming adaptive, engaging, and truly aligned to business outcomes.' Tech-driven, Human-centered The shift isn't just about flashy tools. It's about making learning real and relevant to the job, personalized to the learner, and integrated into the work flow. With AI and data-driven learning experience platforms (LXPs), organizations can now tailor content not just to a role, but to the individual's learning style, pace, and career path. At Yatra, this philosophy is already embedded into the company's learning DNA. 'We're leaning towards hyper-personalized learning where content is adjusted as per user needs,' shares Shakti Goel, CDO at Yatra. 'We're exploring both LMS and LXP systems to facilitate self-paced, remote learning. This is anytime, anywhere learning. Mobile-first delivery and microlearning formats, like one–three minute videos, are fostering a continuous learning culture.' Interestingly, Yatra is also extending these capabilities to educate customers, blurring the line between workforce enablement and customer experience. The CIO's new mandate: Talent intelligence For CIOs, the next competitive advantage lies in linking workforce capability data directly to technology outcomes. Today's intelligent learning platforms offer more than engagement metrics - they provide skill proficiency scores, learning velocity insights, and predictive indicators of transformation readiness. This means CIOs can now do three critical mandates in their organisation: De-risk major tech rollouts by mapping learning data to project teams. For instance, if a cloud migration is scheduled, CIOs can evaluate which teams have completed the necessary architecture, security, or DevOps training and delay or recalibrate deployments if gaps reskilling investments based on real-time capability heatmaps. Rather than relying on manager feedback or lagging performance indicators, CIOs can now identify which business units or roles are falling behind on AI literacy, cybersecurity protocols, or agile methods and intervene learning signals into workforce planning. Smart CIOs are feeding L&D data into broader workforce models to support succession planning for digital critical roles, assess readiness for cross functional deployment, and even inform hiring strategies when internal capability ceilings are reached. As digital disruption accelerates, the CIO's true differentiator won't just be uptime, security, or scalability, it will be how fast their teams can learn, adapt, and innovate. In this new paradigm, Learning & Development isn't a support function - it's a strategic engine of transformation. For forward thinking CIOs, investing in talent intelligence and immersive, tech enabled learning isn't optional, it's mission critical.
Economic Times
2 days ago
- Economic Times
Pharma industry to outdo India Inc in 2025 pay hike: Study
Agencies Pharma industry to outdo India Inc in 2025 pay hike: Study New Delhi: Employees in pharma companies are likely to get an increment of 9.6% in 2025, a tad lower than last year but still exceeding the average pay hike of 8.8% projected for corporate India, according to a Deloitte roles like regen medicine researcher (who investigates ways to repair or replace damaged tissues and organs), pharmacovigilance specialist (who ensures the safety of medications and vaccines), real-world evidence scientist (an expert on data analysis and research methods), digital health programme officer and clinical artificial intelligence analysts are likely to get even higher increments, said experts. 'This year's pay hike has been more progressive compared to the previous cycle' for Mankind Pharma, said Prateek Dubey, global chief HR officer at the maker of Asthakind expectorant and Bandy anti-worm chewable tablet. 'This year, stronger business performance and strategic clarity has enabled us to be more generous and differentiated in our approach,' he told pharma industry has had a stable outlook in terms of increments and promotions over the last five years, with average hikes ranging between 9.3% and 9.8%, Deloitte India partner Neelesh Gupta said. The average pay hikes in India Inc in general, meanwhile, has been consistently declining since projected average 2025 increment is 20 basis points (0.2 percentage point) lower than the average for last year. But when it comes to key talent, employees are attracting retention measures that include 1.5 to 1.8 times increments, retention bonus up to 20% of the fixed pay and fast-track careers, Gupta said. The Deloitte study attributes the pharma sector's higher pay hikes compared with India Inc to sustained strong growth outlook over the years and also the emergence of biotech as a hyper growth engine within life hot and new roles within pharma are commanding a pay premium of 10-20% in the market, according to the Pharma has identified critical talent pools that include roles in R&D, regulatory affairs, digital transformation, manufacturing excellence and product management, said pay hike this year for Kilitch Drugs is at par with last year's levels, said whole-time director Bhavin Mukund Mehta, who is also vice-chairman of the Pharmaceuticals Export Promotion Council of India. Kilitch Drugs is giving an around a 9% hike for 2025.'The pharma sector has been offering better hikes than many other sectors due to a combination of strong business performance, high talent demand and the inherent resilience of the industry,' said top performers, the pay hike this year has ranged between 10% and 20%, he added. At Alembic Pharmaceuticals, the hikes this year are ranging between 6% and 10, said CHRO Namita Patwari.
