Climate transition · 21 August 2026
India's climate transition is moving beyond individual technologies. The next phase will be about building the systems that allow those technologies to scale.
What began as a push towards cleaner technologies is increasingly becoming a transformation of how economies produce, move, consume and grow. Across energy, mobility, infrastructure and industry, the focus is shifting from adopting individual solutions to building the ecosystem that allows them to scale.
India's direction is increasingly clear. In March 2026, the Union Cabinet approved India's Nationally Determined Contribution (NDC) for 2031-35, raising the target for non-fossil fuel-based installed power capacity to 60% by 2035. More broadly, policy, technology and economics are converging to make climate transition increasingly relevant for businesses and investors.
Why the transition is accelerating
Three forces are coming together. Technology is becoming more viable, with renewable energy, battery storage, electric mobility and other low-carbon solutions moving towards commercial scale. Policy ambition is creating clearer direction for businesses and investors, while growing attention to energy security, efficiency and operating economics is making the transition increasingly relevant from a business perspective.
Together, these forces are making the transition broader, faster and more interconnected.
EVs: more than a mobility transition
EVs are often viewed simply as a replacement for conventional vehicles. But their significance extends much further. An EV connects multiple parts of the climate ecosystem: vehicles, batteries, charging infrastructure, electricity networks, renewable energy, technology, financing and fleet operations.
For commercial fleets, electrification requires more than purchasing vehicles. It requires adequate charging infrastructure, power availability, grid integration, financing, technology and lifecycle management.
The transition therefore moves from financing the vehicle to enabling the system around it.
The ecosystem is the opportunity
The same principle extends beyond mobility. India's climate ambitions encompass renewable energy, battery storage, green energy corridors, cleaner manufacturing, green hydrogen, carbon capture, nuclear energy and climate-resilient infrastructure.
Each requires more than technology. It requires capital, infrastructure, expertise, partnerships and businesses capable of taking solutions from adoption to scale.
The financing opportunity reflects this scale. Estimates suggest India requires $160-288 billion in climate finance annually through 2030. Separately, an estimated $467 billion in additional climate finance is required between 2022 and 2030 to decarbonise four major high-emitting sectors: steel, cement, power and road transport.
How does finance evolve alongside the transition?
From financing assets to enabling ecosystems
Traditional financing models often focus on individual assets - a vehicle, piece of equipment or infrastructure. The next phase calls for a broader lens.
Capital needs to help businesses adopt new technologies, enable infrastructure, support emerging business models and connect participants across the value chain. Finance can therefore become more than a source of capital. It can become an enabler that connects the different pieces of the transition.
The thinking behind Nexxgro
Our journey began with Stride Green and a focus on electric mobility. Working closely with businesses across the mobility ecosystem gave us a first-hand understanding of what climate transition really requires - not just technology or assets, but the capital, infrastructure, partnerships and capabilities needed to take solutions from adoption to scale.
Nexxgro is the next evolution of that journey. We are expanding our perspective from financing individual assets to enabling the wider ecosystem around climate transition, bringing together capital, businesses, technology and expertise to help build what comes next.
Building what's next
The climate transition will not be delivered by one technology, one industry or one source of capital. It will be built through partnership, innovation, technology, deep expertise, sustainability and trust.
India's climate ambition is growing. Technologies are evolving. Businesses are adapting. And the ecosystem around them is taking shape. The opportunity now is not simply to participate in the transition, but to help build the systems that allow it to scale.
At a glance
Key takeaways
- The climate transition is accelerating - driven by technology, policy and changing economics.
- EVs are a critical building block, but their scale depends on the wider ecosystem of energy, infrastructure, technology and finance.
- The opportunity extends beyond individual assets to the businesses, infrastructure and technologies enabling the transition.
- Collaboration will be critical to bring capital, businesses, technology and expertise together.