Hotter temperatures, more frequent monsoons, droughts and climate refugees: these are all predicted to occur in the years to come in India because of climate change. Luckily, it remains possible for sustainable economic growth in India to occur.
India and Climate Change
India has one of the fastest growing economies in the world. In many ways, however, it is unsustainable and promotes the use of fossil fuels. The research that the Binzagr Institute on Sustainable Prosperity carries out is trying to change this model, and promotes sustainable economic growth which could help local communities in India grow and thrive! Their motto — People, Planet and Prosperity — aims to expand the world to think about more than the bottom line and GDP.
Check out the list below to see three ways that economic growth in India can happen while saving the planet:
- Locally-oriented economies could revolutionize the way capitalism operates throughout the globe. The goal is to move from a global-centric, export-oriented model to a more local way of encouraging communities to thrive especially when many members of the labor market depend on agriculture in rural areas. Instead of building foreign factories and paying employees lower than a living wage, focusing on community development is key to ensuring that development, prosperity and sustainable economic growth are promoted in India.
- Aquaponics is an agricultural model that combines plant and fish production to create a symbiotic relationship through fish waste and water so as to provide plants with nutrients. The plants use these ingredients to grow and flourish, then release clean water back to the fish. The process is completely sustainable, and provides food for local communities without requiring any soil. By instating this technology, India will fight climate change and spur sustainable economic growth and development in India. This method would also also enable the allocation of fertile land. Just as leafy greens can be grown using the aquaponics system, fertile land can be used to prioritize agricultural products, such as livestock, fruits and grains.
- In addition to the above solutions, we must change the world’s mindset about how to measure prosperity. Currently, we use the standard GDP model, but GDP growth does not always mean positive growth. An oil spill will increase GDP because more work is being done to fix the problem — people and businesses are indeed hired, but is this really a positive contribution to citizens’ quality of life? The Binzagr Institute is working on a new way to define growth that takes out negative impacts on people’s quality of life as a contribution to ‘growth.’ This will encourage and support the ideas proposed above.
As we can see, while there are a lot of problems facing this world, there are solutions developing that can rectify the situation of poverty in India and hopefully prevent the disastrous effects of climate change that could have dire consequences for India’s impoverished. Sustainable economic growth in India can be promoted through the implementation of these strategies.
– Jilly Fox