India's Carbon Credit Trading Scheme - Market Design, Mechanisms & the Role of Verification

India's carbon market is moving from policy to practice. With the CCTS set to cover ~800 entities across 9 hard-to-abate sectors from FY2026, the question is no longer if Indian industry will engage with carbon markets, but how ready the ecosystem is to support them. In this paper, Ploxi, in collaboration with Blockvolt Limited and Parijata Earth Foundation, break down: 🔹 The CCTS governance architecture and compliance parameters 🔹 The dual-ACVA verification framework — a design choice unique to India 🔹 The offset mechanism and project lifecycle under the ICM 🔹 How India's CCTS compares to the EU ETS, China's National ETS, and Korea's K-ETS 🔹 The verification capacity gap that will determine how fast the market can scale Our core thesis: India has the regulatory architecture and institutional legacy to build a credible, liquid carbon market but verification infrastructure is the binding constraint on how fast it scales.