To address the “E” of ESG, Indian companies are very keen to deploy environment-friendly solutions to meet the goals of their net zero roadmaps and make their businesses greener and more efficient. Secondly, Indian entrepreneurs and large corporates are scouting for innovative new green technologies to evolve into leaders in the growing green solution business in India. Today, the market size in India for green tech is expected to reach a $45-55 billion market size by 2027, as per a Boston Consulting Group (BCG) report.
The Indian federal government has set the target to get to net zero by 2070, but there are significant challenges in achieving this without access to relevant technology availability and financing. Europe has been a leader in green technology development and deployment over the past decades. Access to Technology and Best practice exchange are areas that Europe can support and collaborate with India. Recently, in April 2022, the governments of India and the EU joined hands to launch the EU-India Trade and Technology Council focusing on green technologies as one of the pillars. The European Commission has created the Enterprise Europe Network (EEN) covering 400+ tech hubs across the European Union, Associated Countries, and other international geographies, including India.
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