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Green economy and India

Prime Minister of India, Mr. Narendra Modi has envisioned making the country a 5 trillion dollar economy by 2024. Realizing this dream is challenging task especially in the post-pandemic world but the most arduous task would be to build it as a green economy. Being the third-largest carbon emitter, India undoubtedly has a major role in limiting GHGs (Green House Gases) emissions to achieve the 2 degree Celsius global warming target.

Despite the aforementioned challenges and responsibilities, the government is taking several steps to walk on the path of long-term sustainability. Some of the initiatives in this direction are:

i) Introduction of electric vehicles policy 2020 under the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme which will help curb air pollution.

ii) Carbon emission targets- Gujarat has become the first state to set a cap on carbon emissions in the textile industry, other states are also implementing it.

iii) The central government is also planning to levy a green tax on old vehicles which will disincentivize people from using the old vehicles.

iv) Use of recycled plastic and fly ash for construction purposes which have been done strategically by countries like China.

Notwithstanding the ongoing efforts of the government, there is much more that has to be done to promote an environmentally friendly ecosystem, one major step would be the investment in innovative startups that would use technology to tackle the environmental challenges.

This article has been compiled by EICBI’s project intern, Ms. Garima Bhandari under the guidance of their project mentor Ms. Ritika Gupta from Internshape

Disclaimer: The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of EICBI and EICBI does not assume any responsibility or liability for the same.

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