Page 53 - Policy Economic Report - March 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

programmes, India is building a transparent and credible carbon market framework that will serve as a
long-term national asset.

He further noted that India has already established a transparent Carbon Credit Trading Scheme with
nine notified methodologies and over 40 registered entities submitting projects in biogas, hydrogen, and
forestry. On the compliance side, GEI targets for nearly 490 obligated entities across seven energy-
intensive sectors have been notified, ensuring emission reductions are verifiable and credible.

He urged businesses to view carbon markets not merely as a compliance requirement but as a strategic
opportunity for innovation, investment, sustainable growth, and entrepreneurship, adding that they will
serve as an economic platform to facilitate the same."

The Minister of State for Power, Shri Shripad Naik, underscored the three pillars or three Cs essential for
robust carbon markets- credibility through digital MRV for verifiable emission reductions, capital to
channel trillions into clean technologies like renewables and green hydrogen, and collaboration via Paris
Agreement Article 6. He highlighted India's rapid rise as a global renewable energy leader, alongside
energy efficiency gains and the operational Carbon Credit Trading Scheme (CCTS) 2023 with expanding
methodologies across sectors. He emphasized that these advancements show how guarded climate
action and economic growth are complementary, with carbon markets poised to drive high-integrity
ambition, empower MSMEs and farmers, and shape transparent global pathways.

The two-day conference will feature sessions on global carbon markets under the Paris Agreement
Crediting Mechanism (PACM), compliance frameworks, digital MRV technologies, carbon border
policies, integration of buildings and cooling into India’s CCTS, empowering farmers, unlocking finance
for clean technologies, and corporate climate action. Together, these sessions underscored India’s
proactive approach to shaping credible, inclusive, and globally aligned carbon markets.

Prakriti 2026 reaffirms India’s emergence as a global leader in climate action. By building a carbon
market anchored in transparency, credibility, and innovation, India is not only accelerating its domestic
green transition but also shaping international pathways for sustainable growth. The conference marks a
decisive step in positioning India as a trusted hub for climate solutions and a driving force in the global
momentum towards a low-carbon future.

Bharat Electricity Summit 2026 Concludes with Strong Global Participation, Actionable Outcomes, and
Roadmap for a Resilient, Future-ready Power Sector

The maiden edition of the Bharat Electricity Summit (BES) concluded successfully, bringing together
policymakers, global experts, industry leaders, investors, and innovators to deliberate on the future of
the power sector and accelerate the global clean energy transition. The Summit witnessed wide-ranging
discussions, high-level bilateral engagements, and significant business interactions, reinforcing India’s
leadership in the global energy ecosystem.

The Summit witnessed an exceptional response, with over 35,000 exhibition attendees, 28 States /
Union Territories, 200+ exhibiting companies including 80+ Start-ups, 6,000+ delegates, 300+ speakers,
and 100+ conference sessions, reflecting its scale and global significance.

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