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As India develops its carbon markets to mitigate climate change, it is important to consider the short-term costs for industry. Analysing data on formal manufacturing from 2009-10 to 2019-20, this article finds that energy and labour are complementary inputs in production – if an intervention such as a carbon tax raises the cost of energy and reduces its use in manufacturing, employment will go down as well.
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.