Big bets for heavy (green) industries

Can Indian manufacturing remain competitive, add to national income and create jobs, despite environmental constraints imposing hard choices on patterns of industrial development?

Yesterday, the United Nations Secretary-General convened a climate action summit urging world leaders to increase ambitions to ensure net zero emissions by 2050. India co-chaired the industry transition track with Sweden. India aims to become a $5 trillion economy by 2024. Manufacturing share of GDP reached an all-time high in 1995 (18 per cent). When China was at our current size in 2006, manufacturing contributed a third of its GDP. Manufacturing is also responsible for a quarter of India’s greenhouse gas emissions, rising to more than a third by 2040.

Can Indian manufacturing remain competitive, add to national income and create