With the on-setting realities of climate change looming over the world, India walks towards a promising future – one that is entirely sustainable and one that perhaps symbolizes the clearest mark of India’s development. The promising and dynamic economy can be seen as throwing up environmental challenges against development. India’s commitment to making itself net-zero by 2070 is a significant step in taking positive strides to meet global environmental issues.

 

Such a roadmap creates enormous opportunities in the development of green business ideas which will also boost the economy. It will scrutinize India’s approach while achieving that goal, as well as some of the opportunities available for companies to become successful in a green economy.

 

Also Read: 50 Green Business Ideas for Aspiring Entrepreneurs

 

India’s Commitment to Net Zero Emissions by 2070

During the summit in COP26, held back in November 2021, Prime Minister Narendra Modi declared that India would become a net-zero emitter by 2070. This is a specific commitment intended to match global efforts at fighting climate change and keeping temperature rises below 1.5°C. As an integral part of the commitment, India has made specific ambitious goals to:

 

• Reduce carbon intensity by 45% by 2030.
• Increase the proportion of non-fossil energy capacity by 50% by 2030.
• 500 GW renewable energy capacity by 2030.

 

Reducing its carbon footprint is not merely an environmental goal for India; it is also an economic opportunity. Eco-friendly business ideas will not only provide avenues for green innovation but also offer fresh opportunities for sustainable growth for industries.

 

Also Read: Best Eco-Friendly Products, Projects & Ideas for Startups

 

Opportunities for Eco-Friendly Enterprises in India

Green economy provides a boost to number of opportunities for businesses as green. Greener businesses will be in storage even through sustainable energies and sustainable agriculture. Let us see some of the critical subjects behind which eco-friendly business ideas can be some of the most possible ones.

 

1. Renewable Energy: Clean Future

 

This actually happens to be one of the biggest providers of renewable energy across the globe-solar and wind. Its government is creating tremendous possibilities in this area as part of its strategy for its country to increase its share in renewables in the energy source.

 

Opportunities in Renewable Energy:

• Solar energy: This, more importantly, is the most optimal geography for the generation of solar energy mainly due to the availability of sunlight in general throughout the year. Many schemes have already been undertaken by the Indian Government toward the encouragement of rooftop-based solar installations on a residential, commercial, and an industrial basis.
• Windy Energy: This is one of the top five countries if potential is to be weighed. Business opportunities include manufacturing and installation of wind turbines or maintenance.
• Energy Storage Solutions: As renewable energy sources start to expand, energy storage solutions such as batteries and smart grids will play a pivotal role in managing supply and demand for energy.

 

Engaged in all this, eco-friendly businesses would be well-positioned to enable the government to achieve reduced carbon footprint of India and catch a rising market.

 

2. Electric Vehicles (EVs) and Green Mobility

 

In India, transport sector is one of the most significant contributors to carbon emissions and transitioning to electric vehicles (EVs) brings on board a huge opportunity for green businesses. The government of India has introduced several efforts such as the Faster Adoption and Manufacture of Hybrid and Electric Vehicles (FAME) scheme to spread the use of EVs.

 

Opportunities in the EV Segment:

 

• EV Manufacturing– Entrepreneurs can get into electric vehicle including two wheelers, three wheelers, and four wheelers for their enterprise venture. There is also scope for local manufacturing of EV batteries.
• EV Charging Infrastructure: The need for EV charging stations is rapidly increasing with the upsurge in EV usage. Establishing a wide network of electric vehicle charging stations across both urban and rural areas can be a very lucrative business opportunity.
• Battery Recycling: It is the most important part with minimal lifespan for batteries of EVs, reliable disposal, or recycling method is critical. Ideas and technologies must be investigated by entrepreneurs in battery recycling and its second-life applications.

Also Read: Set-Up your own EV Charging Stations

It is also a win-win for business and nature as the upcoming electric vehicle sector will decrease the carbon footprint and provide cleaner air to urban regions.

 

3. Sustainable Agriculture and Food Production

Well, the agriculture sector contributes a great deal to enhancing the economy. Nonetheless, it also adds to the high level of greenhouse gases, mainly through fertilizer overuse, over-irrigation, and burning of crop residues. Sustainable developments in agriculture have ever-increasing opportunities for green businesses.

 

Sustainable Agriculture Opportunities:

 

• Organic Farming: The market for organic food products has definitely increased in India, both within and outside the country. Enterprises can take advantage of this window of opportunity by offering inputs in organic farming, organic produce, and certification services.
• Agri-tech Solutions: Technology-enabled solutions like precision farming, AI-based crop monitoring, and water-efficient irrigation systems can cut down the carbon footprint of farm activities to a large extent. Agri-tech start-ups can help farmers shift toward sustainable agricultural practices while boosting productivity.
• Food Waste Management: The food industry, naturally, is one of the biggest messiest industries. It is an avenue that eco-friendly businesses can explore-the food waste recycling technology, composting, or creating value-added products from food waste.

 

By adopting these practices, businesses will not only add their worth to India’s goals in reducing carbon footprints but will also contribute to the sustainability of the future farming community.

 

Also Read: Jute Shopping Bags Manufacturing Business

 

4. Waste Management and Recycling

 

Waste management is indeed one of the most critical challenges as far as our rapidly growing urban centers in India are concerned. In this country, every year millions of tons of waste is generated, out of which a major portion goes into landfills, further aggravating the pollution and degrading the environment. Green businesses focusing on waste management and recycling would not only contribute to achieving eco-friendliness but help convert waste into valuable resources.

 

Opportunities in Waste Management Are:

 

• Recycling and Upcycling: Business opportunities in the arena of recycling plastic, paper, metals or electronic wastes are highly advantageous. Also, one may already be able to find avenues in upcycling-from waste material into high-value products. .
• Compost: Waste from households and industries may be converted into compost termed organic. Compost serves as an important input for agriculture.
• Waste to Energy: Waste to energy is a budding area. Businesses can leverage the technology that lets waste turn into renewable energy source saving from fossils.

 

Our Project Reports:

• A Business Plan for Bio-Degradable Plastic Polymer from Corn
• A Business Plan for Solar Panel

Tremendous Future Opportunities are for Businesses in Waste Management, Given that India Vows to Reduce Waste and Improve Recycling Rates.

 

Also Read: Top Biodegradable FMCG Packaging Startups

 

5. Green Building and Sustainable Construction

 

The construction sector of India is booming, and their contribution to carbon emission is much higher. Hence, eco-friendly building practices can contribute a lot in this way: using green materials, efficient energy systems, and green construction can minimize carbon footprints of the built environment considerably.

 

Also Read: Building materials for construction

 

Opportunities in Sustainable Construction:

 

• Green building materials: The demand for green building products is on the increase. Some of these products include recycled steel, bamboo, and energy-efficient insulation. Here, the entrepreneur can either start a manufacturing or the supply of green building materials.
• Green architecture, which includes rainwater harvesting, use of solar power, and passive cooling, is gaining popularity rapidly. The entrepreneur can develop expertise in these eco-friendly construction techniques and provide consultancy.
• Retrofitting Companies operating in the green construction industry retrofitting existing buildings with energy-efficient technologies like LED lighting, smart thermostats, and water-saving fixtures.

 

Indian urbanisation is going to increasingly up its demand for green buildings. This is a space for business venture with humongous potential for an environment-friendly activity.

 

Read Our Books

• Startup Projects for Entrepreneurs: 50 Highly Profitable Small & Medium Industries 
• Entrepreneur’s Start-Up Handbook: Manufacturing of Profitable Household (FMCG) Products with Process & Formulations (2nd Revised Edition) 

Conclusion:

The journey of India towards net-zero emissions by 2070 will open a sky of opportunities for green business ideas with a focus on sustainability and reducing the carbon footprint. From renewable energy to electric vehicles, by sustainable agricultural activities, waste management, and green construction activities, there is a wide scope for the entrepreneurs to impact positively on the environment. Adopting them will ensure that the businesses tread towards a sustainable future while earning great profits. 

 

Therefore, if you want to start your own green venture or learn about sustainable business practices, visit NIIR for a treasure trove of resources and insights on making a green business journey to net-zero in India.