According to Prof. Ajay Kumar Sood, the Principal Scientific Adviser (PSA) to the Government of India, India will need an annual investment of $40-50 billion over the next fifty years to meet its energy transition goals. While addressing the Economic Times Energy Leadership Awards, Prof Sood highlighted the complexities involved in decarbonisation and stressed the urgent need to transform India's energy consumption patterns to achieve the net-zero target by 2070. He emphasized that as India aspires to become a $5 trillion economy by 2047 while simultaneously pursuing its net-zero target, significant transformations in energy production and consumption are essential. Prof Sood pointed out India’s aim to fulfill 50 per cent of its energy needs with renewable sources by 2030, which he referred to as a “dual challenge” that requires both economic growth and climate action. Furthermore, Prof. Sood linked the growth of India’s Human Development Index (HDI) with energy consumption, indicating that as the country progresses towards higher economic development, its energy requirements will increase significantly. He explained that to achieve an HDI of 0.9, India’s per capita energy consumption would need to rise to 56 gigajoules per year. He also noted that this growth would depend on factors such as enhanced electrification, urbanization, and the adoption of advanced technologies like green hydrogen, low-carbon solutions, and innovations in photovoltaic technologies. He referenced a recent report titled ‘Synchronizing Energy Transition Towards Possible Net Zero for India’, prepared by IIM Ahmedabad, which underscores the necessity for substantial technological interventions. The report predicts that India’s energy mix will require a diverse array of technologies to meet the demands of its expanding economy and facilitate the transition to net-zero emissions. Prof. Sood mentioned that the report compares various energy mix scenarios to identify combinations that could assist India in reaching its net-zero target. Additionally, Prof Sood identified carbon capture, utilization, and sequestration (CCUS) as a crucial tool for reducing CO2 emissions, asserting its significant role in the transition. He remarked that carbon markets would be vital in promoting CCUS by establishing a price on carbon emissions and encouraging investments in emission reduction technologies. On the topic of green hydrogen, Prof. Sood noted the government's advancements, stating that a significant portion of the green hydrogen produced in India would be aimed at the export market. He added that the government has adopted a “whole-of-government approach,” with various ministries—including steel, power, and transport—collaborating to implement the green hydrogen mission.