“India has the potential to significantly increase its energy security to support continued rapid growth, while securing sustainability that exceeds current expectations,” says McKinsey Report,” India: Taking on the green-growth challenge”.
The report highlights that “India has a tremendous opportunity to increase its level of sustainability beyond what it expects to achieve through the ambitious programs already inaugurated. Achieving just a portion of this theoretical potential would yield immense economic and social benefits that would not only enable India to maintain its recent rapid rate of growth and increase its energy security but also to increase the quality of life of its citizens by expanding energy inclusion, increasing access to quality food and water, and improving air quality. And by acting quickly, India has the opportunity to establish itself as a hub for a range of clean-tech industries, thus laying the foundations for new avenues of growth.”
Over the next two decades, India is expected to grow at a rate of 7 to 8 percent. And during that same period, it will build approximately 80 percent of the physical assets i.e., infrastructure, commercial and residential real estate, vehicle stock, and industrial capacity which will constitute the India of 2030.
Growth of this magnitude will bring tremendous benefits, but it also poses many challenges, particularly regarding sustainability. However, the report reiterates,” India has already taken steps to curb expected increases in GHG emissions, including launching efforts to increase the efficiency with which it uses resources, reduce consumption, and accelerate the adoption of clean technologies.”
” India: Taking on the green-growth challenge”, the reports discusses:
- How can India reduce energy consumption and GHG emissions without compromising its prospects for growth?
- How is India going to develop solutions to long-standing challenges in financing, regulation, skills, and technological and business-model uncertainty?
- What should India do to retain its global competitive positioning?
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