India to investment 36.6 lakh crore in green infra in FY24-30 period

India is spending more on infrastructure, especially green infrastructure. CRISIL, India will invest about Rs 143 lakh crore on infrastructure over the course of seven fiscal years to 2030. This is more than twice as much as the Rs 67 lakh crore spent in the seven prior months of financial year 2016–17 (FY17). And of the entire amount of Rs 143 lakh crore, about Rs 36.6 lakh crore will be allocated to green investments. Intriguingly, green investments have increased by 5x since FY17–23. And renewable energy will account for the majority of the investments in India's green areas (30.3 lakh crore rupees), followed by transportation (6.3 lakh crore rupees).  

"CRISIL anticipates India's gross domestic product to increase at an average rate of 6.7% through [FY31], making it the largest economy that will expand the fastest. By [FY31], the per capita income is predicted to increase from $2,500 to $4,500, turning the nation into one of middle income. According to Amish Mehta, Managing Director & CEO of CRISIL Ltd., "This growth will be supported by massive overall infrastructure development, with a sharp focus on integrating sustainability". 

The average ticket size of projects will increase, and there will be a considerable number of mega-scale projects, in the upcoming phase of infrastructure development. An appealing argument for various stakeholders to accelerate investments across infrastructure sectors is created by appropriate and consistent policy and regulatory interventions and a focus on timely execution. 

Leading industries like power and transportation are anticipated to continue to play a significant role, while relatively new ones like electric vehicles, solar, wind, and hydrogen will gain momentum. By 2030, EV sales in India as a whole are projected to account for about 30% of total auto sales. Up until 2028, two-wheeler EV sales are anticipated to exceed other market segments, while state-run transportation agencies will boost demand for EV buses. In the upcoming years, EV adoption will be supported by favourable total cost of ownership and acquisition, as well as model availability for two- and three-wheelers.