Dampener on carbon trading
The high aspirations that the Indian green energy-based companies had nurtured for generating additional resources through carbon trading have begun to fade. Their Chinese counterparts have out-smarted them by wooing away customers, largely from the European Union (EU), and forcing them to search for new buyers and even opt for lower prices. Though India, on paper, is still the second largest seller of carbon credits, its market share, reckoned in 2007 at an abysmal 6 per cent, looks insignificant when compared with the 73 per cent market share enjoyed by China.