India has emerged as one of the world’s largest new carbon markets after launching its Carbon Credit Trading Scheme in 2026. According to a World Bank report, the system currently covers seven sectors and nearly 490 industries, bringing around 477 million tonnes of emissions under regulation. The report states that global carbon pricing now covers 29 per cent of greenhouse gas emissions.
The report also highlighted that India’s expanding carbon market could play a major role in increasing global carbon pricing coverage by 2030. Industries that reduce emissions beyond their targets can earn and trade carbon credit certificates, encouraging cleaner production. Experts believe the move may strengthen India’s position in global climate and trade discussions.