Introduction
Investments in energy transition, digital public infrastructure (DPI), and female empowerment are crucial drivers for India’s journey towards a greener, more sustainable future. These sectors collectively foster economic growth, social inclusivity, and environmental sustainability.
Body
Energy Transition
- Renewable Energy: India has achieved remarkable progress in its energy transition, with renewable energy accounting for 42% of its total power generation capacity.
- Global Standing: As the world’s fourth largest renewables market, India contributes 3% to the global solar manufacturing capacity.
- Investment: Annually, India invests close to $10 billion in renewables, ranking among the top five emerging and middle-income economies in public renewable energy investments. This includes promoting electric vehicles (EVs) and renewable hydrogen generation.
Examples:
International Solar Alliance (ISA): India’s initiative to promote solar energy globally.
National Solar Mission: Aims to establish India as a global leader in solar energy production.
Digital Public Infrastructure (DPI)
- Inclusivity: Through DPI, India has revolutionized access to social services, allowing millions to receive social safety net payments, create bank accounts, and access government services efficiently.
- Digital Payments: These have significantly reduced delays in the payment of maternal health conditional cash transfers by 43%.
- Rural Transformation: Digital innovation is transforming rural communities by facilitating online health consultations, remote learning, e-commerce, and fintech.
Examples:
Aadhaar: A unique identification system that enables direct benefit transfers.
Unified Payments Interface (UPI): A system that has revolutionized digital payments in India.
Female Empowerment
- Labour Force Participation: Despite low overall female labour force participation, safe urban housing and improved financial access have increased women’s participation in the industrial sector to 43% of the national total.
- Rural Initiatives: The National Rural Livelihoods Mission, funded by the World Bank, has organized millions of rural women into self-help groups. Over $4 billion in commercial credit has been mobilized to support women-led cooperatives and rural businesses.
Examples:
Deendayal Antyodaya Yojana: Promotes self-employment and organization of rural women into self-help groups.
MUDRA Yojana: Provides financial support to women entrepreneurs.
Conclusion
India’s strategic investments in energy transition, digital public infrastructure, and female empowerment are propelling the nation towards a sustainable and inclusive future.
These initiatives not only enhance economic growth but also ensure environmental sustainability and social equity. By continuing to invest in these areas, India can solidify its position as a global leader in sustainable development.