India Launches Major Carbon Credit Trading Scheme in 2026
India's Carbon Credit Trading Scheme, launched in 2026, positions it among the largest carbon markets globally. With 29% of emissions covered by carbon pricing systems, the global emissions trading market generated over $107 billion in 2025.
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India's new Carbon Credit Trading Scheme, launched in 2026, targets seven sectors and approximately 490 industries, covering an estimated 477 million tCO2e. This positions India as one of the largest newly implemented carbon pricing systems, following the World Bank's report which indicates that global carbon pricing now encompasses 29% of GHG emissions.
The average carbon price has risen from $10/tCO2e in 2016 to nearly $21/tCO2e by 2026. India is expected to expand its system to include the iron and steel sector, potentially increasing global carbon pricing coverage towards one third of total emissions by 2030. The country has issued over 375 million carbon credits from 2010 to 2025, highlighting its role in the voluntary carbon market despite challenges with project registration.
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