India's Ambitious Leap: IIM Bangalore Propels Carbon Market Innovation

In anticipation of India's Carbon Credit Trading System launch, IIM Bangalore's CDPG hosted a pivotal roundtable to craft India's Open Network for Carbon Markets. This initiative aims to simplify global carbon trading for local stakeholders, ensuring transparency, ease of access, and equitable participation.

Bengaluru, Karnataka – As India gears up to introduce its Carbon Credit Trading System, IIM Bangalore's Centre for Digital Public Goods (CDPG) took significant steps by holding a roundtable on March 19, 2026. The meeting aimed at designing an Open Network for Carbon Markets (ONCM), and featured leaders from various sectors, including regulators, market exchange makers, and corporate buyers.

The proposed ONCM, in collaboration with Networks for Humanity (NFH), seeks to eliminate major barriers restricting India's engagement in global carbon markets. It aims to solve issues such as fragmented registries, pricing opacity, and non-standard monitoring-review-verification processes by creating a comprehensive digital infrastructure. This system would facilitate easy trading of carbon credits globally while allowing participants to maintain their autonomy and data sovereignty, aiming to reach even small-scale farmers through accessible platforms.

Prof. R Srinivasan, Chairperson of CDPG, stressed the importance of an interoperable network for industries and small entrepreneurs. Sujith Nair, Co-founder of Beckn and NFH, highlighted the revolutionary impact of open protocols in other sectors. Ms. Chaitrali Bhoi, the ONCM project lead, outlined the challenges and vision for ONCM. Experts across various working groups discussed market mechanisms and technical feasibilities, agreeing on pilot projects' initiation.

The event concluded with expert commitments to advance pilot implementations. Notable participants included executives from Tata Consultancy Services, RenewCred, and PhonePe, ensuring a diverse mix of stakeholders to support this transformative endeavor.

(With inputs from agencies.)