Achieving net zero carbon emissions by 2070, a target that Prime Minister Narendra Modi committed to in Glasgow in 2021, could boost India’s economy by as much as 4.7% above the projected baseline growth in GDP terms by 2036, worth a total of $371 billion, a report said on Friday.
It could also create as many as 15 million new jobs by 2047, said the report commissioned by the High-level Policy Commission on Getting Asia to Net Zero , which was released here.
The Getting India to Net Zero report, as it is called, contains new research and modelling and finds that policies to initiate the clean energy transition will be crucial in determining when India achieves net zero emissions and how much it could benefit from it. Positive economic impacts are driven in part by an improved trade balance of $236 billion due to reduced demand for fossil fuels.
