Chief Economic Adviser V. Anantha Nageswarana today said there is a need to align India’s climate action with its growth trajectory. In a keynote address at the Indian Venture and Alternate Capital Association’s (IVCA) GreenReturns Summit 2025, Nageswaran noted that India’s climate mitigation efforts are fundamentally linked to the country’s fiscal outlook, developmental needs, and long-term competitiveness.

CEA called for strong fiscal alignment to drive India’s climate transition at IVCA GreenReturns Summit and added that said India’s climate needs must balance growth, inclusion and resilience.

“India’s climate agenda must strengthen—not slow down—our growth priorities. As a fast-growing economy that has not yet reached peak energy consumption, we have to ensure the availability of affordable and reliable energy while steadily lowering the energy intensity of our growth. The transition must be designed around our development needs, not at their expense.”

Nageswaran emphasised on the centrality of climate adaptation for developing economies. “Adaptation has to come first for countries like India, because most climate-related losses arise from vulnerability rather than emissions,” he said.  

“Strengthening coastal protection, water systems, heat resilience, and climate-smart agriculture will reduce systemic risks and make our transition more stable. As we invest and innovate, we must be fact-based and complete in our assessments, ensuring that our climate pathway is both environmentally sound and economically durable,” he added.

During the summit, investors and founders highlighted the need for stable policies, demand-side efficiency solutions, and innovations that reduce the energy intensity of growth.

“IVCA is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India,” the association said in a release.

“IVCA is committed to supporting the ecosystem by facilitating advocacy discussions with the Government of India, policymakers, and regulators, resulting in the rise of entrepreneurial activity, innovation, and job creation in India and contributing towards the development of India as a leading fund management hub. IVCA represents 450+ funds with a combined AUM of over $350 billion,” it added.