The last two decades have seen impressive levels of Indian economic growth, with valuable increases in GDP growth, poverty reduction, and industrial development. However, the journey to achieve the Sustainable Development Goals is especially full of twists and turns, vis-à-vis trends on income inequality, regional disparities, and environmental sustainability. Complications arising from the informal sector, high carbon emissions, and industrial pollution have complicated the country’s ability to combine economic growth with more sustainable development. This paper reviews progress in India toward SDG-linked economic growth, where it has placed greater emphasis on key sectors such as renewable energy, electric vehicles, sustainable agriculture, and the digital economy. The growth of green industries and expansion of employment in these sectors are promising as far as the alignment of economic growth with environmental and social objectives is concerned. The policy initiatives such as Make in India, Start-up India, and Skill India have been helpful in fostering innovation and employment. The biggest challenges remain those of formal employment, low wages, and environmental degradation. In addition, the paper argues on the relevance of green financing, skill development, public-private partnerships (PPPs), and digital transformation as the main levers through Sustainable development goals (SDG)-driven economic growth. These policy recommendations are critical to promote sustainability, fostering more inclusive development, and promoting decent work. While much has been achieved, structural inefficiencies in public finance, infrastructure development, and governance stand in the way of tapping the full potential of the SDGs in India. India will need a rethink on economic growth to ensure a balance where sustainability and social equity are prioritised. The governmental, private sector, and civil society sphere all have their respective roles to play to attain self-driven inclusive and green development. This transformation is integral to building a resilient economy sustained over time for the betterment of the coming ages.

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Economic Advancement and the Indian Economy Under the Aegis of Sustainable Development Goals (SDGs)

  • Arshad Bhat,
  • Abid Sultan,
  • M. M. Kachroo,
  • Parvaiz Rashid,
  • M. Lateef

摘要

The last two decades have seen impressive levels of Indian economic growth, with valuable increases in GDP growth, poverty reduction, and industrial development. However, the journey to achieve the Sustainable Development Goals is especially full of twists and turns, vis-à-vis trends on income inequality, regional disparities, and environmental sustainability. Complications arising from the informal sector, high carbon emissions, and industrial pollution have complicated the country’s ability to combine economic growth with more sustainable development. This paper reviews progress in India toward SDG-linked economic growth, where it has placed greater emphasis on key sectors such as renewable energy, electric vehicles, sustainable agriculture, and the digital economy. The growth of green industries and expansion of employment in these sectors are promising as far as the alignment of economic growth with environmental and social objectives is concerned. The policy initiatives such as Make in India, Start-up India, and Skill India have been helpful in fostering innovation and employment. The biggest challenges remain those of formal employment, low wages, and environmental degradation. In addition, the paper argues on the relevance of green financing, skill development, public-private partnerships (PPPs), and digital transformation as the main levers through Sustainable development goals (SDG)-driven economic growth. These policy recommendations are critical to promote sustainability, fostering more inclusive development, and promoting decent work. While much has been achieved, structural inefficiencies in public finance, infrastructure development, and governance stand in the way of tapping the full potential of the SDGs in India. India will need a rethink on economic growth to ensure a balance where sustainability and social equity are prioritised. The governmental, private sector, and civil society sphere all have their respective roles to play to attain self-driven inclusive and green development. This transformation is integral to building a resilient economy sustained over time for the betterment of the coming ages.