In 2023, the share of climate change-related taxes in India's GDP was below 1.27%. From 2024 to 2028, the forecast indicates a stable increase, reaching 1.3% by 2028, with marginal year-to-year growth. The year-on-year increase is roughly 0.79% from 2024 onwards, reflecting a slight but consistent advancement, with a five-year CAGR indicating minimal average annual growth.
Future trends to watch for include:
- Changes in government policies impacting tax rates or scope.
- International commitments influencing domestic climate legislation.
- Economic shifts affecting GDP proportions.
- Emerging sustainable technologies prompting tax adjustments.
