This paper has been jointly prepared by Indian Council for Research on International Economic Relations (ICRIER) and World Resources Institute (WRI) under the aegis of New Climate Economy the flagship project of The Global Commission on the Economy and Climate. The project has been overseen and led by Rajat Kathuria (Director & CE, ICRIER) and Ani Dasgupta (Global Director, WRI Ross Center for Sustainable Cities). We are also extremely grateful to Meenu Tewari, Nick Godfrey, Anjali Mahendra, Sarah Colenbrander and Michael Westphal for their valuable comments and inputs. We would also like to thank Smita Srinivas, David Fuente and Shirish Patel who provided comments and suggestions to a previous draft. The work has also benefitted from extensive stakeholder engagements with a number of experts and relevant government departments and agencies. Any shortcomings or errors are those of the authors alone
