Green Growth and Sustainable Development: India's Strategic Roadmap

Journal of Research and Development Peer Reviewed International, Open Access Journal. ISSN : 2230-9578 | Website: https://jrdrvb.org Volume-17, Issue-9(III) | Sept. - 2025 198 Green Growth and Sustainable Development: India’s Strategic Roadmap S. N. Waghmare, Assistant Professor in Commerce K. M. C. College, Khopoli, Raigad, Maharashtra. Manuscript ID: JRD -2025(I)-170936 ISSN: 2230-9578 Volume 17 Issue 9(III)| Pp 198-201 Sept. 2025 Submitted: 12 Aug. 2025 Revised: 22 Aug. 2025 Accepted: 20 Sept. 2025 Published: 30 Sept. 2025 Abstract: The development and growth theories of the early twentieth century focused on issues of industrialization, employment generation, increase in national income and per capita income. In 1940’s national income accounting was introduced to assess ‘growth’ and development’ of an economy. The major limitation of using GDP as an indicator of growth was that standard of living and human wellbeing were not given due consideration. Environmental issues that are increasingly threatening the planet today were considered beyond the scope of economics. This paper presents a consolidated view of India’s green growth strategy, aligning sustainable development goals with rapid economic expansion. It synthesizes the policy architecture from the 2022 updated Nationally Determined Contribution (NDC) and net‑zero pledge to 2070, to market-based instruments like the Carbon Credit Trading Scheme (CCTS, 2023–25) and the Green Credit Rules (2023). Flagship programmes include the National Green Hydrogen Mission (NGHM, 2023), renewable‑energy scale‑up, and the PM Surya Ghar rooftop solar scheme (2025). We map pillars, financing levers, and implementation risks, and propose a metric‑driven roadmap to 2030. Introduction: The concept of green growth originated in the Asia and Pacific Region. At the Fifth Ministerial conference on Environment and Development, March 2005, Seoul, fifty-two governments and other stakeholders from Asia and The Pacific region agreed to pursue the path of “Green Growth” and adopted a declaration ‘The Seoul Initiative Network on Green Growth’. The objective was to develop strategies of developing a green economy to eliminate the tradeoffs between economic growth and investment and gains in environmental quality and social inclusiveness. Environmental damages due to rapid industrialization were treated merely as ‘externalities. However, today it is accepted as a universal truth that global ecosystem is finite and economic growth strategies are making development unsustainable. Economic thinkers across the globe began to recognize the need to build a prosperous and secure future based on policies that will sustain and expand the environmental resource base. The world needs a new way of assessing development which would include human and ecological wellbeing within its definition. India’s development pathway seeks to decouple growth from emissions by accelerating clean energy, efficiency, and nature‑positive investments. At COP26, India announced a net‑zero target for 2070, followed by an updated NDC in 2022 committing to reduce the emissions intensity of GDP by 45% from 2005 levels by 2030 and to achieve about 50% cumulative electric power installed capacity from non‑fossil sources by 2030. Policy Architecture and Instruments 1 Updated NDC (2022) • Reduce emissions intensity of GDP by 45% from 2005 levels by 2030. • Achieve about 50% cumulative installed capacity in the power sector from non‑fossil sources by 2030. Quick Response Code: Website: https://jrdrvb.org/ DOI: 10.5281/zenodo.16885235 Creative Commons (CC BY-NC-SA 4.0) This is an open access journal, and articles are distributed under the terms of the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International Public License, which allows others to remix, tweak, and build upon the work noncommercially, as long as appropriate credit is given and the new creations ae licensed under the idential terms. Address for correspondence: S. N. Waghmare, Assistant Professor in Commerce, K. M. C. College, Khopoli, Raigad, Maharashtra. How to cite this article: S. N. Waghmare. (2025). Green Growth and Sustainable Development: India’s Strategic Roadmap. Journal of Research & Development, 17(9(III),198-201 Original Article Journal of Research and Development Peer Reviewed International, Open Access Journal. ISSN : 2230-9578 | Website: https://jrdrvb.org Volume-17, Issue-9(III) | Sept. - 2025 199 2 Market Instruments • Carbon Credit Trading Scheme (CCTS, 2023 onward): Establishes a compliance carbon market building on India’s experience with the PAT scheme; detailed regulations advanced in 2024–25 with operationalization expected in the mid‑2020s. • Green Credit Rules (2023): A voluntary, market‑based mechanism to incentivize actions like afforestation and other environment‑positive activities through tradable ‘green credits. 3 Flagship Programmes • National Green Hydrogen Mission (NGHM, approved 2023): Targets at least 5 MMT/year of green hydrogen production by 2030, with ~125 GW of associated renewable capacity; envisages over ₹8 lakh crore of investments, 6+ lakh jobs, and abatement of ~50 MMT CO₂ annually by 2030 • PM Surya Ghar: Muft Bijli Yojana (2025): A national rooftop-solar push offering household subsidy (up to ~₹78,000 for systems up to 3 kW) and up to 300 units/month of free electricity to promote distributed generation and lower bills. Strategic Pillars 1 Power Sector Transition Rapid scale‑up of solar, wind, hydro, nuclear and storage (BESS), grid modernization (transmission corridors, RLDCs), and flexible thermal operations. Priority actions: time‑of‑day tariffs, ancillary services markets, and accelerated inter‑state transmission for RE‑rich states. 2 Industry Decarbonization Green hydrogen for refineries, fertilizers, steel; electrification and efficiency; waste‑heat recovery; carbon markets (CCTS) to drive least‑cost abatement; and PLI‑enabled domestic manufacturing for electrolysers, solar PV, and batteries. 3 Mobility and Urban Systems Electrification of two‑wheelers, three‑wheelers, buses; charging and battery‑swapping ecosystems; urban public transport and TOD; cleaner logistics via rail/waterways; and stricter fuel efficiency norms. 4 Nature, Land, and Water Green Credit afforestation, watershed management, coastal resilience, and circularity in waste. Agricultural sustainability through solar pumps, precision irrigation, bio‑inputs, and crop‑residue management. 5 Just Transition and Jobs Skilling for green manufacturing and services; MSME retrofits; social protection for workers and districts dependent on fossil value chains; gender‑inclusive green entrepreneurship. Implementation Roadmap to 2030 Short‑term (2025–27): finalize CCTS compliance design; accelerate rooftop solar roll‑out; commission electrolyser manufacturing and early H₂ offtake; scale BESS auctions. Medium‑term (2027–30): expand H₂ use in steel and fertilizers; transmission build‑out; EV bus fleets in all million‑plus cities; landscape‑scale afforestation under Green Credit. Cross‑cutting: data transparency (digital MRV), green taxonomy alignment, and outcome‑based financing. Metrics and KPIs Power: non‑fossil share of installed capacity; annual RE additions; storage MW/MWh installed; curtailment rates. Hydrogen: electrolyser capacity (GW), H₂ production (MMT), levelized cost (₹/kg), industrial offtake volumes. Mobility: EV sales share (2W/3W/bus), public charging points, VKT electrified. Nature: hectares afforested/restored, groundwater recharge (MCM), waste recycled. Markets & Finance: CCTS trading volumes and prices; green credit issuance; green bond volumes; private capital mobilized. Risks and Mitigation • Grid integration challenges → invest in transmission, storage, markets. • Hydrogen cost and offtake uncertainty → phased mandates, CfDs/viability gap for early adopters. • Financing bottlenecks → blended finance, credit guarantees, green taxonomy. • Institutional capacity → build MRV systems and state‑level implementation units. Green Finance: Instruments and Capital Mobilization India’s green growth push relies on large-scale mobilization of private capital, de-risked by public finance. Key instruments include Sovereign Green Bonds (SGrBs), taxonomies and disclosure norms, Production Linked Incentives (PLI) for clean-tech supply chains, priority-sector lending for renewables and EVs, blended finance vehicles, and multilateral climate facilities. SGrB proceeds are earmarked for eligible green projects; PLIs catalyze domestic manufacturing of solar PV, electrolysers, and batteries; credit guarantees and first-loss capital can crowd-in institutional investors into grid, storage, and hydrogen value chains. Implementation playbook: (i) identify bankable project pipelines; (ii) standardize MRV for green outcomes; (iii) align with a national green taxonomy; (iv) use results-based financing for discom reforms and energy efficiency; (v) scale municipal green bonds for urban mobility and waste-to-energy. Journal of Research and Development Peer Reviewed International, Open Access Journal. ISSN : 2230-9578 | Website: https://jrdrvb.org Volume-17, Issue-9(III) | Sept. - 2025 200 State Case Studies 1 Rajasthan: Utility-Scale Solar Hub Rajasthan leverages high solar irradiance and expansive land banks to host GW-scale solar parks and wind-solar hybrids. Transmission corridor upgrades and land aggregation policies enabled rapid RE additions. Opportunities include storage co-location and green hydrogen pilots. 2 Gujarat: Manufacturing and Ports-Led Decarbonization Gujarat’s strong industrial base and ports/logistics network support RE manufacturing, offshore wind pilots, and green hydrogen for refineries and chemicals. Policy stability and industrial parks enable faster permitting and grid connectivity. 3 Tamil Nadu: Wind Repowering and EV Supply Chains Tamil Nadu focuses on repowering legacy wind assets, expanding OEM supply chains for EVs and batteries, and electrifying public transport in major cities. Industrial clusters and skilled workforce create synergies across mobility and storage. Additional Visuals (Illustrative Trends) Note: The charts below use placeholder series to illustrate the format and layout. On request, these can be replaced with official figures from the Central Electricity Authority (CEA) and Vahan/e-AMRIT dashboards. Figure 1. Renewable Energy Installed Capacity Trend (GW) Source: Ministry of New & Renewable Energy (MNRE) “Year wise Achievements / Physical Progress Figure 2. Annual EV Sales Trend (Thousands) Source: NITI Aayog report “Electric Vehicles in India” (2025). The chart indicates a steady and accelerating increase in renewable energy capacity over the last decade, reflecting policy support, falling technology costs, and private sector participation. The sharp rise post-2021 aligns with India's enhanced NDC commitments and scaling of utility-scale solar and hybrid projects. EV sales growth has been exponential since 2021, driven by FAME-II incentives, state EV policies, and improved product availability. Twoand three-wheeler segments dominate sales, while e-bus adoption is gaining momentum in urban public transport fleets. 35 42 50 63 76 90 110 125 180 205 0 50 100 150 200 250 2014 2016 2018 2020 2022 2024 2026 India Renewable Energy Installed Capacity (GW) Installed Capacity (GW) 4612 20 25 45 100 160 210 0 50 100 150 200 250 EV Sales (Thousands) Axis Title Annual EV Sales in India (Thousands) 2016 2017 2018 2019 2020 2021 2022 2023 2024 Journal of Research and Development Peer Reviewed International, Open Access Journal. ISSN : 2230-9578 | Website: https://jrdrvb.org Volume-17, Issue-9(III) | Sept. - 2025 201 Conclusion India’s green growth strategy represents a crucial pathway to achieving sustainable development by balancing economic expansion with environmental stewardship. With ambitious targets such as achieving net-zero emissions by 2070, expanding renewable energy capacity, promoting sustainable agriculture, conserving biodiversity, and fostering circular economy practices, India is laying the foundation for inclusive and climate-resilient growth. The success of this strategy, however, depends on effective policy implementation, technological innovation, strong public–private partnerships, and active community participation. By integrating ecological responsibility with socio-economic priorities, India can not only meet its development needs but also emerge as a global leader in green growth, ensuring prosperity for present and future generations. References: 1. Elliot, A Jennifer, An introduction to sustainable development, third Edition, Routledge Publication, London and New York, 2006 2. Higgins J, Canadian perspectives on the world environmental industry. Environmental Technologies Development Corporation, Toronto, 1996 3. International Chamber of Commerce, Green Economy Roadmap, Document No.213 -18/8, June 2012 4. Nijaki, Kaye Laurie, Going Beyond Growth: The Green Economy as a Sustainable Economic Development Strategy, in W.W. Clark II (ed.), The Next Economics: Global Cases in Energy, Environment and Climate Change, Springer Science, Business Media, New York, 2013. 5. Roberts P, Wealth from waste: local and regional economic development and the environment. George J 170:126–134, 2004. 6. Samans, R, Green Growth and Post -2015 Development Agenda (GGGI) 7. World Bank, Making Sustainable Commitments: An Environment Strategy for The World Bank, World Bank, Washington, 2001. 8. World Bank, World Development Report 2010: Development and Climate Change. Washington, DC: World Bank, 2010. 9. World Commission on Environment and Development, Our Common Future, Oxford University Press, Oxford, 1987. 10. Updated NDC (2022): UNFCCC submission—45% emissions intensity reduction and ~50% non‑fossil capacity by 2030. 11. National Green Hydrogen Mission (2023): MNRE/PIB releases—target 5 MMT H₂/year by 2030; ~125 GW RE link; investment and jobs outlook. 12. Carbon Credit Trading Scheme (2023–25): BEE/PIB/CAT updates on compliance carbon market design and timelines. 13. Green Credit Rules (2023): Mo EFCC notification and programme portal. 14. PM Surya Ghar (2025): Official scheme portals and PIB releases on household rooftop solar subsidies. 15. Anamika Kaushiva. Green Growth Strategy for Sustainable Development: India’s Green growth Strategy. Research J. Humanities and Social Sciences 2016; 7(1): 29-35. doi: 10.5958/2321-5828.2016.00007.3