India: Pathways to Sustaining Rapid Development in a New Climate Economy: Conference Draft

The Government of India under Prime Minister (PM) Narendra Modi is undertaking bold initiatives to jumpstart rapid development that is both inclusive and sustainable. The “Make in India” initiative has undertaken a farreaching streamlining of investment regulations and proposes major infrastructure expansion to support rapid growth in manufacturing, including development of smart cities and industrial corridors. Financial inclusion of the poor has significantly increased, with over 100 million new bank accounts opened in just a few months under the Jan Dhan Yojana initiative. All bank accounts are to be linked to the Aadhaar electronic ID system, which will facilitate modernisation of government service delivery and social protection programme. At a recent meeting of India’s Council on Climate Change, PM Modi said that India views global concerns about climate change as a great opportunity for working towards the well-being of its citizens, and making a positive contribution for mankind. Instead of focusing on emission cuts alone, there is a need for a broader perspective on progress in clean energy generation, energy conservation and energy efficiency