Unfastening the Vitality to Promote Green Growth: Lessons from Innovative Strategy of India

There is environment catastrophe in the world and is a big threat to survival of the mankind. Achieving sustainable and inclusive growth – or ‘green growth’ is an exigent task. Green growth means promoting economic growth while reducing pollution and greenhouse gas emissions, minimizing waste and inefficient use of natural resources, and maintaining biodiversity†. Green models which are selected for development, values the natural resources and puts green growth at heart in strategizing the development strategies to secure a sustainable future. There is no country which has realized green growth, there are various emerging economies – like China, India and Brazil – are implementing and testing with innovative policy and have thrived in motivating substantial quantity of related investment and innovation by business. A shared nationwide vision is the need of today to counter the challenges coming from climate change and energy issues for achieving sustainable and greener tomorrow. The objective of the present paper is an attempt to understand the scoping concept of green growth in India, i.e. its evolution, challenges, and policy assessment and drivers. India is in inception stage. India is facing a multitude of disputes and challenges i.e.: it needs to nurture, to properly tackle joblessness and poverty, and to handle the current economic and fiscal crisis as well as its environmental challenges. Indian government takes a leading role in setting the development path, the private sector has become a key factor in recent years; this is due to its growing share in the economy, influencing the development schema of the nation. To take India to a green path essentially requires incorporated and coordinated action across different ministries and other stakeholders, like private sector.