Prime Minister Narendra Modi emphasized India’s significant strides in renewable energy, particularly solar, wind energy, and green hydrogen, to foster a ‘Green GDP’ crucial for global climate action. Modi advocated for integrating Green GDP into economic assessments worldwide, suggesting a shift in terminology to reflect environmental impacts accurately.
During a discussion with Microsoft Co-founder Bill Gates, Modi stressed the importance of reevaluating economic development metrics to incorporate the environmental footprint. As India targets a $5 trillion economy, the concept of Green GDP gains prominence by factoring in environmental costs associated with production.
Modi highlighted India’s focus on nature-friendly innovation, citing the establishment of a $1.33 billion corpus fund to incentivize technological research in sunrise sectors. This initiative offers young entrepreneurs interest-free funding for 50 years to explore future technologies aimed at addressing climate concerns.
The Prime Minister underscored the necessity of adopting climate-friendly lifestyles, noting the prevailing growth metrics favoring energy-intensive industries. Modi urged a shift in mindset towards sustainability, emphasizing the need to break away from patterns of excessive energy consumption and resource utilization.
