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When you mention CleanTech, most people think of windmills, solar panels or maybe electric vehicles. But the reality is far different from what it seems. Ideally, the thinking is correct, but CleanTech is about developing and deploying new technologies and solutions that can help address the impact of climate change. CleanTech covers everything from how we produce energy, utilize it and other resources, and how we manage our water, land and air. New and affordable CleanTech solutions have the potential to make our homes, cities, and communities more sustainable, efficient, smarter and inclusive. CleanTech also gives access to necessities to people like energy, water and healthcare.
The term CleanTech was first used in the early 1990s to describe eco-friendly solutions. And today, the terminology has become a common term in our day-to-day lives, and the sector has taken off as a viable industry. One of the main key drivers of this growth has been the Government policies and incentives aimed at promoting CleanTech resources and reducing greenhouse gas emissions.
Is CleanTech the Future?
Clean technology is the technology of the future. The importance of CleanTech as a sector is growing immensely, and sustainable practices across industries are vital. India is slowly and steadily marching towards developing solutions to help construct a sustainable energy future. This, in turn, is creating a buzz around the entire Indian ecosystem among various startups and investors to invest in this field.
The CleanTech sector is projected to be the fastest-growing segment in India. This sector comprises six segments, which are, namely, renewable energy, energy efficiency, green transportation, water and wastewater treatment, air quality control and solid waste management. The CleanTech sector is becoming increasingly competitive with traditional forms of electricity generation, decreasing costs and rising demand from users and businesses alike.
India in the current market scenario and in the upcoming years, offers a very profitable commercial sector for the CleanTech industry. The nation is receiving countless enterprises and FDI inflows which further help the CleanTech industry to flourish.
Here are some broad predictions that the CleanTech industry is likely to see in future:
- The CleanTech industry will be the dominant source of power worldwide by FY2050
- Renewable energy sources like wind and solar will account for most of the electricity generation worldwide
- EVs or Electrical Vehicles will become a common name, with more than half of all new cars being electric by FY2030
- The CleanTech sector will play a major role in reducing greenhouse gas emissions and avoiding climate change catastrophes
Looking at the Bigger Picture
The Indian CleanTech sector believes that it is safe to say that the sector has been rapidly growing in recent years. With the Government of India altering its strategy to make India a net-zero carbon economy by 2050, the nation has set aggressive targets.
If you are a startup working towards bringing positive change in the environment, explore the various growth opportunities that the Startup India platform offers. Register your startup with DPIIT and embark on a fruitful startup journey with Startup India.
