India's Value Proposition?
India is an important partner for Europe as one of the fastest growing major economies that will reshape the global economy in the twenty-first century and offer a high consumption market. Europe on the other hand, is a natural partner in supporting India’s aim to grow in a sustainable manner; access green technology and digital solutions; achieve resource efficiency; implement regulatory models and legislative frameworks; and adopt global standards. Therefore Europe-India cooperation is crucial to reduce resource pressure and pollution, greenhouse gas emissions and enhancing resilience to climate change.
India is currently the world’s fourth largest emitter of greenhouse gases. Its energy needs will more than double in the next 20 years. The country is highly vulnerable to climate change and extreme weather, such as heat waves, droughts and floods. This exacerbates development challenges which disproportionately affects the poor and vulnerable groups. The impact of economic and demographic growth on the environment is high. Particular challenges include resource depletion, in particular water scarcity, air and water pollution and waste management. Source
As an economy India remains significant in Asia and is flourishing in innovation. India ranks 46th in the global innovation index ranking as of 2021. India has emerged as the 3rd largest start-up ecosystem after the USA and China, including 51 Unicorns in 2021, with a total funding of 4 billion US dollars comprising of 20,000 start-ups and 200 incubation & business acceleration programmes. India’s global innovation rank jumped from 81 to 46 in the last 6 years, and it is now within the top 50 globally innovative countries. Source