Currently 22% (13Gt CO2-eq) of the total global greenhouse gas emission is contributed through agriculture, forestry and other land use. In current global scenario of environmental goals, farming sector is under tremendous pressure of reducing its share of emissions. Agroforestry system is the best option to achieve net zero carbon emissions target of India. Keeping this view, to evaluate the intercrops and gamhar based agroforestry system for their biomass production along with carbon emission, carbon sequestration, carbon credit, and carbon trading potential. The experiment was laid out in randomized block design with seven different treatments and five replications Gamhar tree biomass accumulation was higher in gamhar based agroforestry system compared to sole gamhar. Among different tree components, stem contributed a maximum to total gamhar tree biomass followed by roots, leaves and branches. Average contribution of stem, roots, leaves and branches in total tree biomass was 50.00, 19.79, 19.18 and 10.73 percent in 2016-17, 59.94, 19.98, 12.74 and 7.27 percent in 2017-18, and 58.05, 20.00, 14.02 and 7.93 percent in pooled data, respectively. In case of crops, above ground, below ground and total biomass was significantly higher in sole intercrops than under gamhar based agroforestry system. Total (Tree + interrops + Soil) carbon stock, carbon sequestration, carbon credit and carbon price were significantly affected by treatments, and was maximum in Sole Greengram-Mustard. Net carbon emission was also recorded lowest in Sole Greengram-Mustard for which the values were 811.55% and 725.24% and 760.69% lower than Sole Gamhar in 2016-17, 2017-18 and in pooled data, respectively.