A green economy essentially emphasises on links between economy and the environment that focus on human well-being, social equity and preventing environmental risks. While safeguarding nature, it offers to provide opportunities for green and decent livelihoods/jobs and build physical, social and natural capitals. Green economy is aims for an integrated and accountable inclusion of the public. It acknowledges the limited biodiversity and invest in protecting these natural resources.
Green Economy is a development strategy which balances both economic development and ecological sustainability and is getting widely popular in India. The Indian economy which is the fastest growing globally, sees a bright spot in future. However, the ever-growing population of India poses a serious threat to the sustainability of this impressive economic growth. The Living Planet reports, if India continues its overuse of natural resources,, its consumption levels would rise to the combined consumption of all the 34 OECD countries in just 14 years. It can be very well interpreted India will not be able to sustain the well-being of its people or natural capital if the natural trajectory is continued. It is therefore required to bring about changes in the country that bring economic reforms that guides India in the direction of green and inclusive economies.
India is a part of major environmental agreements across the world such as 2030 Global development agenda and the Paris climate agreement. However, India still lives at 68 out of a total of 80 countries on the global green economy index and ranks amongst the last in the environment dimension and leadership and climate change; and efficiency sectors dimension. The Indian green economy barometer 2018 published by development Alternatives and the Green Economy Coalition (GEC) does an in-depth research on the condition of the Indian economy and how it is moving forward towards a green economy.
So what does the 2018 Green Economy Barometer to say about India? Sectors such as renewable energy, agriculture, construction, Manufacturing, Transport and Tourism are some of India's key sectors. Greening these highly productive sectors of India have immense potential. Agriculture for instance, is becoming slightly less attractive for job opportunities. There are disparities in wage growth with other sectors, which makes it less appealing. Some steps that have already been taken include, providing credit to the small-scale farmers, usage of climate resilient seeds and technological benefits such as Soil Health Card (SHC). Construction sector is also a highlight for the Indian Green economy. As India ranks 3rd in countries for Leadership for energy and Environmental design (LEED), with a scope of 20% increase Green building projects, it has also been observed that Fly ash in the air due to construction is set to increase. Energy being another vital sector, has benchmark targets to set up more renewable energy capacities by 2022.
Thus, we can certainly conclude that India is aiming to move to a sustainable environment path with inclusion of economic growth. It is a matter of time that with a community effort, India will be able to achieve a green economy status.
READ MORE:
http://globalbizresearch.org/files/k558_irrem_satrajit-dutta-397662.pdf https://www.devalt.org/images/L2_ProjectPdfs/GreenEconomyBarometer.pdf?Oid=252 https://www.greeneconomycoalition.org/news-analysis/indias-green-economy-barometer-2018 http://www.indiaenvironmentportal.org.in/content/424831/green-growth-and-sustainable-development-in-india/
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