The recent budget has shown a significant emphasis on government investment in promoting green growth. However, the future might rely on attracting private investments and market-based resource mobilization.
In line with its 2022 Nationally Determined Contribution (NDC) goals, India has set forth ambitious targets, including reducing GDP emissions intensity by 45% from 2005 levels by 2030, ramping up its renewable energy capacity to 500 GW by 2030, and ultimately achieving net-zero status by 2070. The current budget reflects a strong commitment to these objectives, with a notable focus on government-led investments.
Nonetheless, the key to sustainable progress may lie in attracting private investments and utilizing market-driven mechanisms to mobilize resources. While government initiatives can set the foundation, the involvement of private sector funding and innovative market strategies could play a pivotal role in ensuring the long-term success of India’s green growth endeavors.
