Down To Earth (June 01-15-2024)

INDIA’S ECONOMIC GROWTH AND CLIMATE GOALS OF 2030
Context

●        Economic growth must take into account needs of energy transition, climate mitigation, with action aligned as per India’s 2030 climate goals.

New Government’s Agenda: Vision 2030 for India

  •  As India strides into the third decade of the 21st century, the new government has unveiled its ambitious ‘Vision 2030’—a comprehensive plan aimed at catapulting the nation towards unprecedented growth and development.

  •  As India embarks on this ambitious journey, Vision 2030 promises to transform the country into a global powerhouse by fostering growth that is sustainable, inclusive, and forward-looking.

India’s Climate Goals of 2030

  •  India has set ambitious climate goals to be achieved by 2030, aligning with the United Nations’ Sustainable Development Goals (SDGs) and its own Nationally Determined Contributions (NDCs) under the Paris Agreement. These include:
  •   Increase Non-Fossil Electricity Generation: India plans to boost its non-fossil electricity generation capacity to 500 GW by 2030.
  • Renewable Energy: The country is working towards meeting 50% of its energy requirements from renewable energy by 2030.
  • Carbon Emission Reduction: There’s a goal to reduce the total projected carbon emissions by one billion metric tons from now through 2030.
  • Carbon Intensity Reduction: India aims to reduce the carbon intensity of its economy by at least 45% by 2030 compared to 2005 levels.
  • Net Zero by 2070: While this is a long-term goal, it’s part of India’s roadmap to achieve the target of net zero emissions by 2070.
  • Additional Carbon Sink: India has also committed to creating an additional carbon sink of 2.5 to 3 billion tonnes of CO2 equivalent through additional forest and tree cover by 2030.
  • Inclusive Growth: At the heart of Vision 2030 lies inclusive growth. The government aims to ensure that economic prosperity reaches every stratum of society.

  •     Initiatives to improve healthcare, education, and digital connectivity are expected to bridge the urban-rural divide, empowering citizens with equal opportunities.


    Sustainable Development: Sustainability is another cornerstone of the agenda. With climate change posing a significant threat, India is set to focus on renewable energy sources, aiming to reduce carbon emissions and promote green technologies.


    Infrastructure Leap: Infrastructure development is slated for a massive leap. Vision 2030 envisions state-of-the-art transportation networks, smart cities equipped with IoT technologies, and robust logistics frameworks to support India’s growing economy.


    Technological Advancements: The government also recognizes the role of technology in shaping the future. Plans are underway to foster innovation in AI, robotics, and biotechnology, positioning India as a global hub for cutting-edge research and development.


    Healthcare for All: A healthy nation is a productive nation. Vision 2030 emphasises universal healthcare access, with initiatives to expand healthcare infrastructure and make medical services more affordable.


    Education & Skill Development: Education reforms are set to redefine learning outcomes. The focus will be on skill development, aligning education with market needs to create a workforce ready for the challenges of tomorrow.


    Agricultural Reforms: Agriculture remains a vital sector for India’s economy. Vision 2030 includes plans for modernising agriculture with technology-driven solutions to increase productivity and ensure food security.

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