Green investments: India may attract Rs. 360 trillion by 2047, says CEEW
Virendra Pandit
New Delhi: India could potentially attract USD 4.1 trillion (nearly Rs. 360 trillion) in cumulative green investments over the next two decades through 2047, according to a study launched on Tuesday by the Council on Energy, Environment and Water (CEEW), a non-profit policy research organisation.
The report, which identifies 36 green value chains across energy transition, circular economy, bioeconomy, and nature-based solutions, projects that India could unlock a USD 1.1 trillion (Rs. 97.7 trillion) worth of annual green market by 2047, the media reported on Wednesday.
The study was launched at an event along with a Green Economy Council, a group chaired by former Niti Aayog Chief Executive Officer Amitabh Kant and including Nithin Kamath, CEO, Zerodha; Deep Kalra, Chairman, MakeMyTrip; Vineet Rai, Chairman, Aavishkaar Group; Ishpreet Gandhi, Founder, Stride Ventures; and Ashok Jhunjhunwala, former faculty member, IIT Madras.
Addressing a gathering, Kant said that as India moves beyond a USD 3 trillion economy, it cannot follow the development models of the West. With much of its infrastructure yet to be built, it has a unique chance to design cities, industries, and supply chains around circularity, clean energy, and the bioeconomy.
“Just as digital public infrastructure enabled India to leapfrog technologically, achieving in seven years what would have taken decades, we must now pole-vault into a green economy,” he said.
Energy transition alone could attract USD 3.79 trillion in investments across renewables, storage, distributed energy and clean mobility manufacturing, while bioeconomy and nature-based solutions could unlock USD 415 billion in market value, the study suggested.
It also lists challenges, including lowering capital costs for early-stage sectors, improving supply chains for raw and recycled materials, strengthening research and development and innovation, building a skilled workforce, and establishing product standards for emerging green technologies.
