India's Green Economy Innovation Imperative: Lessons from China's Success
India must prioritize green innovation to compete with China in the global economy.
Photo by Towfiqu barbhuiya
UPSC Exam Angles
GS Paper III: Indian Economy - Sustainable Development, Resource Mobilization
GS Paper II: International Relations - India's role in global climate negotiations
Potential question types: Analytical, evaluative, statement-based
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Background
The concept of a 'green economy' gained prominence in the late 20th and early 21st centuries, driven by growing concerns about climate change, resource depletion, and environmental degradation. The 1992 Rio Earth Summit laid the groundwork by emphasizing sustainable development. The United Nations Environment Programme (UNEP) further popularized the term, defining it as an economy that improves human well-being and social equity while significantly reducing environmental risks and ecological scarcities.
The 2008 financial crisis highlighted the need for a more resilient and sustainable economic model, leading to increased interest in green investments and policies. The transition to a green economy involves shifting from fossil fuels to renewable energy, promoting energy efficiency, investing in sustainable agriculture, and protecting biodiversity. Early adopters included European nations like Germany and Denmark, which invested heavily in renewable energy technologies and green infrastructure.
Latest Developments
In recent years, the green economy has seen significant advancements, particularly in renewable energy technologies and electric vehicles. Global investments in renewable energy have surged, driven by declining costs and supportive government policies. The European Union's Green Deal, launched in 2019, aims to make Europe climate-neutral by 2050, mobilizing substantial public and private investments.
China has emerged as a major player in the green economy, investing heavily in renewable energy, electric vehicles, and green technologies. The COVID-19 pandemic has further accelerated the transition to a green economy, with governments incorporating green recovery measures into their stimulus packages. The future outlook for the green economy is promising, with increasing recognition of the need for sustainable development and growing investments in green technologies and infrastructure.
However, challenges remain, including the need for stronger policy frameworks, increased international cooperation, and addressing social and economic inequalities.
Practice Questions (MCQs)
1. Consider the following statements regarding the Green Economy: 1. It aims to improve human well-being and social equity while reducing environmental risks. 2. It primarily focuses on renewable energy and neglects other sectors like agriculture and transportation. 3. The concept gained prominence after the 2008 financial crisis, highlighting the need for resilient economic models. Which of the statements given above is/are correct?
- A.1 and 2 only
- B.1 and 3 only
- C.2 and 3 only
- D.1, 2 and 3
Show Answer
Answer: B
Statement 1 is correct as the Green Economy aims to improve well-being while reducing environmental risks. Statement 3 is also correct as the 2008 crisis highlighted the need for resilient models. Statement 2 is incorrect as the Green Economy encompasses all sectors, not just renewable energy.
2. Which of the following initiatives is/are directly related to promoting a Green Economy in India? 1. National Mission for Enhanced Energy Efficiency (NMEEE) 2. Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 3. Pradhan Mantri Kisan Sampada Yojana Select the correct answer using the code given below:
- A.1 only
- B.1 and 2 only
- C.2 and 3 only
- D.1, 2 and 3
Show Answer
Answer: D
All three initiatives contribute to a Green Economy. NMEEE promotes energy efficiency, AMRUT focuses on sustainable urban development, and Kisan Sampada Yojana aims to reduce food waste and promote sustainable agriculture.
3. Assertion (A): India needs to prioritize innovation in the green economy to remain competitive globally. Reason (R): China has already established itself as a leader in several green technology sectors. In the context of the above statements, which of the following is correct?
- A.Both A and R are true and R is the correct explanation of A
- B.Both A and R are true but R is NOT the correct explanation of A
- C.A is true but R is false
- D.A is false but R is true
Show Answer
Answer: A
Both the assertion and reason are true, and the reason correctly explains why India needs to innovate in the green economy – to compete with established leaders like China.