New Delhi, March 17 -- India's Viksit Bharat 2047 vision requires a massive expansion of infrastructure and manufacturing, highlighted by the $1.3 trillion National Infrastructure Pipeline. However, achieving this alongside India's net-zero 2070 target poses a financing challenge: investment must jump from $14.7 trillion to $22.7 trillion for a full green transition. To remain globally competitive amid tightening carbon border rules, key sectors such as steel and cement must decarbonize rapidly. This double mandate necessitates a specialized transition finance institution.

The EU's Carbon Border Adjustment Mechanism presents a threat to Indian exports like steel and aluminium. From 2026, exporters could face an additional tax burden of 2...