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The Secretary (Power) held a bilateral meeting with the European Commission's Director General for Taxation and Customs Union to discuss India's carbon market development, the EU's Carbon Border Adjustment Mechanism, and opportunities for enhanced technical cooperation. India has made progress in developing its carbon market and increasing the share of non-fossil sources in its electricity generation capacity. The two sides agreed to strengthen cooperation and facilitate continued dialogue on carbon markets and other areas of mutual interest.
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Mains Practice Question
Discuss the implications of the European Commission's Carbon Border Adjustment Mechanism (CBAM) on India's carbon market development, and the opportunities for enhanced technical cooperation in this context.
250 words
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Which ministry is responsible for India's power sector?
The Ministry of Power is the nodal ministry responsible for India's power sector, overseeing policy, planning, and regulation.
What is the total installed capacity of India's power sector?
India's total installed capacity stands at 558 GW, with non-fossil sources accounting for a significant share.
Consider the following statements regarding India's Carbon Market Development: 1. The Secretary (Power) held a bilateral meeting with the European Commission's Director General for Taxation and Customs Union in New Delhi on 12 November 2026. 2. The meeting focused on India's carbon market development and the EU's Carbon Border Adjustment Mechanism (CBAM). 3. India's Carbon Credit Trading Scheme (CCTS) involves the notification of emission intensity reduction targets for 500 industrial units. How many of the above statements are correct?
Statement 1 is false because the meeting was held on 12 October 2026, not 12 November 2026. Statement 2 is true because the meeting did focus on India's carbon market development and the EU's Carbon Border Adjustment Mechanism (CBAM). Statement 3 is false because the fact list states that India's Carbon Credit Trading Scheme (CCTS) involves the notification of emission intensity reduction targets for 490 industrial units, not 500.
Consider the following two statements: Statement-I: India's Carbon Credit Trading Scheme (CCTS) involves the notification of emission intensity reduction targets for 490 industrial units. Statement-II: The domestic carbon market is being developed in India. Which one of the following is correct in respect of the above statements?
Statement 1 is true because the fact list states that India's Carbon Credit Trading Scheme (CCTS) involves the notification of emission intensity reduction targets for 490 industrial units. Statement 2 is true because the fact list states that the domestic carbon market is being developed in India. Statement 2 explains Statement 1 because the development of the domestic carbon market in India is likely to involve the creation of schemes such as the Carbon Credit Trading Scheme (CCTS).