Advancing CCS in India: policy developments, funding mechanisms, and the potential of basalt storage solutions

Abstract

Carbon Capture and Storage (CCS) is crucial for reducing emissions in hard-to-decarbonize sectors such as cement, steel, and power generation. For India, heavily reliant on coal, CCS provides a means to lower emissions while maintaining energy security. While global CCS deployment has gained momentum through policy support and funding, high costs remain a significant challenge. In India, basalt formations, especially in the Deccan Traps, present a promising and cost-effective option for CO2 storage through mineralization. India’s CCS policy is still in development, with short-term incentives like carbon credits and potential long-term goals, such as carbon taxes, being considered. To scale CCS, India requires robust funding mechanisms, technological innovation, and large¬scale CCS clusters. International collaboration and investment will be essential in addressing financial and technological barriers. With the right infrastructure, research, and policy framework, CCS can become a key component of India’s strategy to meet its net-zero target by 2070.