: By acting on climate change, India can gain trillion in economic value by 2070 #IndiaNEWS A gigantic climate crisis has an opportunity for the struggling Indian economy – if the government plays

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By acting on climate change, India can gain trillion in economic value by 2070 #IndiaNEWS
A gigantic climate crisis has an opportunity for the struggling Indian economy – if the government plays its cards right.India could gain trillion (Rs 810 lakh crore) in economic value in the next 50 years by limiting the rising global temperatures and realising its potential to “export decarbonisation� to the world, a recent report from Deloitte Economics Institute has said. Decarbonisation refers to the process of minimising carbon intensity by reducing the amount of greenhouse gas emissions produced by the burning of fossil fuels.“As India aspires to be a trillion economy, it is not just foreign and domestic investments that will be key in driving growth, we must also take this opportunity to align our ambitions with climate choices,� the report said. “In order to economise the decarbonisation benefits, India has to minimise its energy dependence upon fossil fuels.�The report said if the country succeeds in leveraging its full potential towards decarbonisation then it would equate to a GDP growth of 8.5% by 2070, and about a trillion gain in economic output.The confidence in India’s ability to tackle climate change has come from the fact that the country is already taking some steps in the right direction. For instance, in...Read more

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