The Ministry of Power (MoP) has issued the draft Carbon Credit Trading Scheme, which aims to establish a framework for the Indian carbon market for both voluntary trade and compliance. As per the draft scheme, the Indian Carbon Market Governing Board will be set up to oversee the administrative and regulatory functioning of the carbon market. Meanwhile, the Bureau of Energy Efficiency has been proposed to be the administrator while Grid Controller of India Limited will act as the registry and the Central Electricity Regulatory Commission (CERC) will be the regulator for trading activities in the Indian carbon market.