India has already started feeling the effects of climate change which we have neglected for quiet long. It’s no longer an international issue, it is a domestic, local issue related to water security, land productivity, agricultural yields and energy consumption.

Massive investments will be required in afforestation, sustainable agriculture and water security. There’s no doubt that green is the way to go. It means big business too. India is seen as a technology receiver but we have the potential to become a global leader too in the technologies arena. Such a change in our value addition will mean new and significant business opportunities.

We have National Action Plan on Climate Change based on eight missions. We also have launched 24 other critical initiatives to combat climate change relating to energy efficiency in power generation, renewable energy technology development programmes, improving disaster management response to extreme climate events, protection of coastal areas, and improving the health sector.

Currently renewable energy contributes only eight per cent of country’s power generation. We have to use a billion tons of coal per year within the next 10 years to meet our power needs. Hence we need to find a better way to use it – thermal power stations using super-critical technologies, coal gasification to curb carbon dioxide emissions for which massive investment will be needed. All these mean big business opportunities.

Source: The Hindu