Indian climate-tech sector receives $2.8 billion investment with mobility and energy leading the way

New Delhi, March 21 (IANS) – The Indian climate-tech sector has seen a significant rise in investment, attracting $2.8 billion till November 30, 2023. This amount represents 57 per cent of the total investment from the previous year, as per a report released on Thursday. The ‘mobility’ and ‘energy’ sub-sectors have been the key focus areas, securing over 94 per cent of the total climate-tech investments in the country.

The report by consulting firm FSG highlights the critical role of climate innovation in India’s future. Rishi Agarwal, MD and Head-Asia at FSG, emphasized the importance of prioritizing climate solutions in the national agenda. The overall growth in the climate-tech sector can be attributed to increased awareness among citizens, businesses, and governments regarding sustainable practices. Government incentives have also played a crucial role in attracting investors.

Despite some short-term fluctuations, the long-term growth trajectory of India’s climate-tech sector looks promising. Rishi Agarwal mentioned, “The increasing awareness and government incentives are driving the sector towards sustainable growth.” The report underscores the significance of sustainable practices in shaping the nation’s future and the need to prioritize climate solutions.

The investment activity in the Indian climate-tech sector is driven by significant funding in ‘mobility’ and ‘energy’ sub-sectors. This dominance in these areas reflects the broader focus on climate technology. With the government enhancing incentives and increasing awareness among various stakeholders, the sector is poised for sustainable growth. The report showcases the pivotal role of climate innovation in shaping India’s future and emphasizes the importance of prioritizing climate solutions on the national agenda.

In conclusion, the Indian climate-tech sector has witnessed substantial investment growth, primarily driven by the ‘mobility’ and ‘energy’ sub-sectors. The report by FSG underscores the critical role of sustainable practices and climate innovation in shaping India’s future. With increasing awareness and government incentives, the sector is on a path of promising growth and development.