PARTNERSHIP BETWEEN SCIENTIFIC INNOVATION AND ECONOMIC GROWTH: CASE STUDY OF SOLAR ENERGY IN INDIA
Scientific advances and technological changes are new key partners of economic growth and
development. Scientific innovation has become a new source of wealth creation, improvement
in quality of life and social wellbeing. India as a developing nation is facing many economic
growth and development challenges like unemployment, poverty, hunger, scarcity of
resources, etc. To overcome these problems, new scientific innovations in the field of
renewable energy can provide useful solutions. In the above context, economic analysis of
Jawaharlal Nehru National Solar Mission (NSM) launched in 2010 by GOI is quite relevant.
The NSM provide cheap and clean source of energy and job opportunities in India. The aim of
this paper is to analysis NSM and other solar projects from various aspects of economic
growth and to explore areas of investment for scientific innovation in such type of projects.
This study is explanatory in nature. This study concludes positively that the development of
solar energy can give solutions to many economic problems of rural electrification,
unemployment, climate change, regional development, etc. Thus, India with its increasing
population and limited natural resources needs to use solar energy innovatively to achieve all
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MNRE and CII (Ministry of New and Renewable Energy [India] and Confederation of Indian Industry) (2010), Human Resource Development Strategies for Indian Renewable Energy Sector
Report, Developmental Impacts and Sustainable Governance Aspects of Renewable Energy Projects, Ministry of New and Renewable Energy (MNRE), September, 2013.
Report, Renewable Energy and Jobs, Annual Review, IRENA (International Renewable Energy Agency), 2016
Report, Developmental Impacts and Sustainable Governance Aspects of Renewable Energy Projects, Ministry of New and Renewable Energy (MNRE), September 2013.
Stephan, Paula E. and David B. Audretsch, ‘The Economics of Science and Innovation’, Edward Elgar publication, 2000.
Singh, Man Mohan (2010): To create solar village, January, Solar Energy Review, New Delhi.
Copyright (c) 2017 Dr Reeta Tomar
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