In 2025, India’s growth edged up to 7.4%, a surge supported by robust consumption within the rural economy, strategic goods and services tax rate cuts, and significant export frontloading executed ahead of United States’ tariffs. Alongside the projected growth rates of 6.4% in 2026 and 6.6% next year, the UN report anticipates inflation for the country to settle at 4.4% this year and 4.3% in 2027.
The report further integrates estimates from the International Renewable Energy Agency (IRENA), which suggest the existence of approximately 16.6 million green jobs globally. This sector saw an annual job creation of around 0.8 million between 2012 and 2024, marking a 7% annual growth. Within this context, India’s production-linked incentive scheme serves as a primary illustration of how macroeconomic policy fosters green industrial development. By providing incentives for the domestic manufacturing of solar photovoltaic, batteries, and green hydrogen, the scheme reduces import dependence while cultivating new industrial beneficiaries with a vested interest in sustaining the green transition.
About The Author
Comment List