The Challenges of India’s Economy Shift from Economic Growth to Green Growth

Abstract

The challenge of India’s shift from economic growth to green growth is understanding the relevance of green financial initiatives in the context of green economic growth. After a thorough analysis of India’s economy, it is found that green finance is helping to transform into a green economy. Gross domestic product, economic growth, green growth, green finance, green energy, poverty, and an environmentally friendly economy are the indicators of the study. We collected data from various types of journals, different websites, reports, and government information. The first and foremost thing India needs is enormous economic growth to be able to pull millions of people from below the poverty line. It may be able to upgrade the rank of GHI, HDI, and per capita income. For this reason, India’s carbon emissions are likely to grow at the fastest pace in the world over the next two to three decades. Overall, at the end of 2022, India achieved 68% of its 175 GW renewable installed power capacity target for 2022. “Greenwashing" is also a big issue for India.