Indian Climate-Tech Sector Draws $2.8 Billion Investment

By siliconindia  |  Thursday, 21 March 2024, 12:10:19 PM IST

Indian Climate-Tech Sector Draws $2.8 Billion Investment
According to a report by consulting firm FSG, the Indian climate-tech sector has seen substantial growth, attracting $2.8 billion in investments until November 30, 2023. This represents a significant increase of 57% compared to the previous year. The report highlights that the majority of investments have been directed towards the 'mobility' and 'energy' sub-sectors, comprising over 94% of the total climate-tech investments from 2019 to November 2023.
Rishi Agarwal, MD and Head-Asia at FSG, emphasized the critical role of climate innovation and sustainable practices in India's future, urging the prioritization of climate solutions in the national agenda.
The surge in investment activity is attributed to growing awareness among citizens, businesses, and governments regarding the importance of embracing sustainable practices. Additionally, government incentives have played a significant role in attracting investor interest in the sector.
Despite short-term fluctuations, experts anticipate a promising long-term growth trajectory for India's climate-tech sector, supported by increasing awareness and government initiatives. This underscores the potential for continued advancement and innovation in addressing climate challenges in the country.

ON THE DECK

siliconindia