New Delhi, Sept. 29 -- India is at a pivotal moment in its economic journey. As a fast-growing economy in pursuit of developed status by 2047 under the government's Viksit Bharat vision, its development strategy relies heavily on rapid industrial growth. However, this growth is often framed as inevitably coming at the cost of deteriorating air quality. What if this trade-off were not inevitable?

India has emerged as a leading voice for low- and middle-income countries on climate action, setting itself an ambitious target of achieving net zero emissions by 2070. Bridging the gap between economic growth and emission reduction requires bold innovations. One such innovation is an emissions trading scheme (ETS) for particulate matter (PM) pol...