Green Economy: A Promising Addition to India’s Future Growth, Says Minister Dr. Jitendra Singh

India's path to future economic growth is set to be paved with green initiatives, as highlighted by Union Minister of State (Independent Charge) for Science & Technology, and Minister of State for the Prime Minister's Office, Personnel, Public Grievances, Pensions, Atomic Energy, and Space, Dr. Jitendra Singh.

During an exclusive interview at the ‘Green Ribbon Champions’ Conclave, Dr. Singh emphasized the critical role of industry participation in startups, research, and development to realize this vision. Dr. Singh emphasized the necessity of incorporating ‘Green Financing’ into India's economic framework right from the start.

He expressed his belief that a more extensive industrial engagement and industry involvement were required at the outset, as he considered that without it, progress beyond a certain point would not be possible. This comprehensive approach acknowledges the fundamental interplay between industry and environmental sustainability.

Dr. Singh predicts that the burgeoning Bioeconomy will become a significant source of livelihood in the years to come. He revealed impressive growth figures, mentioning that in 2014, India's bioeconomy was valued at approximately USD10 billion and today it has reached USD80 billion. He also expressed anticipation of it reaching USD125 billion by 2025 in just 8/9 years, highlighting the exponential growth that underscores the potential and importance of India's green sector.

A pivotal development in this endeavor is the Anusandhan National Research Foundation (NRF), recently announced by Prime Minister Narendra Modi. Dr. Singh highlighted that the NRF would tap into substantial non-governmental resources, effectively bridging the gap between the public and private sectors, fostering greater synergy for future growth.

He stated that the NRF would also function as a think tank, determining the themes for projects to be undertaken and funded based on requirements or futuristic visions/projections, including international collaborations. He emphasized that this approach would ensure that innovation remained at the forefront.

The Anusandhan NRF Act was successfully passed by the Parliament in the recent Monsoon session, with a generous budget allocation of Rs. 50,000 crore over five years. This initiative aims to instill a culture of research and innovation across India's educational institutions, research facilities, and R&D laboratories, providing further impetus to clean energy research and Mission Innovation. Remarkably, up to 70% of its funding will come from non-governmental sources.

Dr. Singh also commended Prime Minister Modi's National Education Policy, NEP-2020, as a transformative measure that liberates students from the confines of traditional career paths. He noted that the NEP-2020's provision for multiple entry/exit options fosters academic flexibility, enabling students to explore diverse career opportunities based on their aptitude and interests. He also mentioned that it is going to have a bearing on every sphere of our life, even our mental wellbeing, and that the citizens or the youth will not be living all their lives as 'prisoners of their aspirations' nursed by their parents.

India's journey towards a sustainable and prosperous future is firmly anchored in the principles of green economics, research, and innovation, driven by the visionary leadership of Dr. Jitendra Singh and supported by transformative policies like the Anusandhan NRF and the National Education Policy.

This holistic approach promises to usher in a new era of growth, prosperity, and environmental stewardship for the nation.