While economists argue over the best policies for India’s future growth, they ignore the nation’s largest problem: that no matter how inventive or well-intentioned a policy may be, corruption will always get in its way.
As India celebrates its 67th Independence Day this week, the country can also celebrate its clean energy opportunities as solar, wind and other renewable energy projects expand throughout India. This week, the Indian government announced a $7.9 billion investment to double its transmission capacity – designed to increase access to power from wind and solar projects. For example, India’s installed solar energy has jumped from a mere 17 megawatts in 2010, when India’s National Solar Mission was announced, to over 1.7 megawatts today. Not only do these clean energy projects increase India’s energy supply, they also create much needed jobs.
The Indian government and businesses around the country are making significant investments in renewable resources. The investment in transmission capacity and the next phase of the National Solar Mission are examples policies to drive clean energy development. The motivations for these investments, in part, are to continue to power India’s rapid economic growth and increase energy access by providing modern electricity to the near 400 million people in India without access to modern electricity.
As India’s economy grows and develops, its energy consumption likewise is increasing rapidly: it increased 64 percent from 2001-02 to 2011-12 and is projected to grow an additional 72 percent by 2021-22, according to the Indian Planning Commission. India’s current energy supply, primarily made up of fossil fuels, cannot keep up with growing demand, as evidenced by chronic power cuts. India also needs large scale job creation, a topic that will surely gain attention given upcoming elections and regional statehood discussions.
Economic Times Politicians Talk, the Rupee Drops, India's Economy Tanks Bloomberg India's economy has stalled. Growth in the second quarter fell to 4.4 percent at an annual rate, down from 8 percent two years ago.
Rising numbers of people of Indian origin born in the West are moving to the country their parents left decades ago in search of opportunity and a cultural connection, reports the BBC's Rajini Vaidyanathan.
Since 2005, the Indian government has been encouraging people of Indian descent and former Indian nationals to return to India. For many Indians living in the UK, there are more and better economic opportunities for them within India. Migrants have many reasons for moving (including cultural factors), but the primary pull factor is most certainly India's ascendant importance in the global economy and rising IT industries.
Tags: India, South Asia, migration, immigration, Europe, colonialism, unit 2 population.
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