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Stocks to benefit as India strives to achieve a sustainable environment

With global warming on the rise due to depletion of ozone layer, climate change calls for our attention.

Moreover, many countries and government bodies have actively made various changes in their routine to help align the environment.

The purpose is to make the environment sustainable and liveable for the future generations.

Notable philanthropists have also teamed up with their respective government bodies to spread awareness for the same.

India is currently focusing on one initiative towards climate change which is the introduction of electric vehicles for daily commute.

It aims to satiate the needs of the present generation without depriving the future generation of the resources.

Further, the scrappage policy in the Union Budget 2021-22, plans to increase the demand for new commercial and passenger vehicles.

This will ensure environmental sustainability by increasing fuel efficiency and reducing oil imports.

Hike in the customs duty rate on parts of vehicles to 15 percent targets to promote domestic manufacturing. Besides this, it will result in a gradual shift towards EVs.

The government has implemented several strategies for environment sustainability. One such example is the introduction of Tesla in India.

This includes existing Indian car manufacturing brands that are undergoing a transformation of their engineering either in collaboration or indigenously.

Recently, the central government has launched the “Go Electric” campaign to foster the adoption of EVs in the country.

It will decrease the dependency on imports and gradually move towards a cleaner and greener future via carbon emission reduction.

Infrastructure providers like Tata Power, NTPC and other companies involved in R&D and raw material extraction will also benefit.

This will be possible after implementing the vision full-fledged within the stipulated time frame.

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