<h1>India needs USD 467bn by 2030 to decarbonise power, steel, cement, transport; annual USD 54bn shortfall</h1> A working paper finds India needs USD 467 billion by 2030 to decarbonise power, steel, cement and transport, averaging USD 54 billion annually (about 1.3% of GDP), with over 80% of funds required for steel and cement due to reliance on costly carbon capture and storage. The report uses a bottom-up sectoral estimate, identifies a substantial financing gap to be met by domestic and external sources, and advises possible fiscal deficit expansion up to 2.5% of GDP to absorb external finance. Recommendations include targeted subsidies, R&D and technology transfer for hard-to-abate industries, EV framework and grid upgrades; delays risk high-emission lock-in.