CNBC's Inside India newsletter: A $270 billion gamble on green?

This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe  here.

With Elon Musk deciding to stay home to deal with a high-pressure earnings report, India PM Narendra Modi is still waiting for his meeting with the Tesla boss.

But even if the two had crossed paths this month, any benefit to Tesla or to the Indian economy would have taken years to materialize — if not decades.

In the short term, there appears to be a ton of opportunities for investors, as India transitions toward renewables.

One sector in particular — electrical power transmission — will see $270 billion in financial benefits, according to Goldman Sachs. It's expected to spur investments on a scale that rivals that of the U.S. Inflation Reduction Act's $369 billion subsidy program. 

While utilities like the Power Grid Corporation of India may be perceived as unsexy, compared to growth stocks like Tesla, India plans to promote renewable energy without the taxpayer spending a single rupee. 

This is made possible by allowing consumers of renewable energy to access the inter-state transmission grid at no cost. Industrial companies established in one state, for example, would pay solar and wind farms for energy production in another state — without the added transmission cost.

Instead, the cost of transporting this green energy will be shifted to consumers of non-renewable energy, making the delivery cost-neutral for taxpayers. 

The impact of such a framework is expected to be felt across the economy. 

Clean energy consumers are less likely to be held hostage by a mere cloud hovering over