4 min read.Updated: 22 Aug 2022, 10:12 AM ISTAnirudh Suri
We need similar outlays to create capacity in the field of climate tech and achieve early leadership
The US recently passed the Inflation Reduction Act (IRA) of 2022 with an outlay of $370 billion for the decarbonization of its economy. The IRA, which has little to do with current price inflation, is being hailed as the “biggest climate expenditure in US history" and the beginning of “a new era for climate technology". President Joe Biden recently also signed the US CHIPS and Science Act, which will invest a historic amount in science, technology and manufacturing. Both these Acts are intended to help the US keep up its technological competitive edge vis-à-vis its primary challenger, China. But what does this mean for India? Does it offer any lessons for India’s climate journey and strategy?
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