With a population of more than 1.2 billion, India is the world’s largest democracy. Over the past decade, the country’s integration into the global economy has been accompanied by economic growth. India has now emerged as a global player.
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The focus is on climate smart development across key engines of economic growth – energy, industry, tourism and watershed managementNEW DELHI, June 11, 2014 - The Government of India, the Government of... Show More + Himachal Pradesh (GoHP), and the World Bank today signed a $100 million development policy loan (DPL) agreement to help Himachal Pradesh (HP), a mountain state richly endowed with natural resources, move towards a more environmentally sustainable model of economic growth. The project was approved by the World Bank’s Board of Executive Directors on May 16, 2014.This operation is the second DPL aimed at helping the state manage its natural resources across its key engines of growth – energy, industry and tourism – in a manner that ensures that growth is inclusive and sustainable in Himachal Pradesh. It will help HP bring in better policies and practices to guide the development of sustainable hydropower; adapt and mitigate the effects of climate change; empower local communities to conserv Show Less -
Key FindingsGreen growth is necessary. With cost of environmental degradation at US $80 billion annually, or equivalent to 5.7% of GDP in 2009, environment could become a major constraint in sustaining... Show More + future economic growth. Further, it may be impossible or prohibitively expensive to clean up later.Green growth is affordable. Model simulations suggest that policy interventions such as environmental taxes could potentially be used to yield positive net environmental and health benefits with minimal economic costs for India.Green growth is desirable. For an environmentally sustainable future, India needs to value its natural resources, and ecosystem services to better inform policy and decision-making especially since India is a hotspot of unique biodiversity and ecosystems.Green growth is measurable. Conventional measures of growth do not adequately capture the environmental costs, Therefore, it is imperative to calculate green Gross Domestic Product (green GDP) as an index of economic Show Less -
Inadequate finance, lack of shared infrastructure and constraints to supply chain key barriers to scaling upNew Delhi, 12 December, 2013 – Launched in 2010, the Jawaharlal Nehru National Solar Mission... Show More + Phase 1 (JNNSM) is well-poised to make India a global leader in the development of solar power. In a span of three years, India has taken a significant step forward in implementing its green growth agenda by increasing its installed capacity of solar power from around 30 MW to more than 2,000 MW, says a new World Bank report.What is significant is that JNNSM has been instrumental in bringing down the cost of solar power to a level that is competitive across the world, says the report. It has reduced the costs of solar energy to $0.15 per kWh, making India amongst the lowest cost destinations for grid-connected solar Photovoltaic (PV) in the world.The report, Paving the Way for a Transformational Future: Lessons from JNNSM Phase 1 (pdf), says solar power can reduce India’s dependence Show Less -