Green industrial policy is a timely idea for India to explore


Green industrial policy is a timely idea for India to explore

How can India simultaneously grow and create jobs, attend to its growing environmental crisis, and proactively address inequality? Conventional thinking holds that these objectives can only be achieved sequentially — grow first and clean up later; or grow first and redistribute later. An emergent set of ideas suggests we can do better.

The core idea emerges from a debate over the role of the government in development policy. Should the government limit itself to providing law and order, fiscal health and enabling well-functioning markets, as argued in the Washington Consensus of the 1990s-2000s?  Or should it actively steer the course of development — an approach which resulted in the East Asian miracle growth in South Korea and Taiwan in the 1970s-80s — through the use of industrial policy that targets key directions and sectors? Read More

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