India's transition to net zero economy can create over 50 million jobs: WEF

9th Nov,2021

India's transition to net zero economy can create over 50 million jobs: WEF


According to the World Economic Forum's most recent research report, a Green New Deal for India could represent a $15 trillion economic opportunity by 2070 with the ability to create more than 50 million net new jobs. The World Economic Forum, in cooperation with Kearney and the Observer Research Foundation, published Mission 2070: A Green New Deal for a Net Zero India, which claims that $1 trillion of the opportunity can be realised within this decade provided "concerted action" is taken. According to the WEF's white paper, India can harness green growth to add $1 trillion to GDP by 2030 – and as much as $15 trillion by 2070 – if the drivers and facilitators of growth it outlines are kept in mind. Given the embryonic stages of the green industrial revolution, India has a once-in-a-generation opportunity to emerge as a worldwide green innovation hub. This might be accomplished through private sector incentives and R&D subsidies, as well as the establishment of green tech company incubators and R&D centres, attracting innovative foreign enterprises to set up or extend their operations in India.