India could open investment opportunities worth $1.6 trillion, says World Bank | News

Speaking at a press conference in New Delhi on Nov. 30, a World Bank official said India could open investment opportunities for the private sector worth $1.6 trillion. “This summer we saw deadly heat waves in large parts of northern India. Studies show that it will become more common. It threatens India’s hard-won development growth gains,” said Abhas Jha, Practice Manager, Climate Change & Disaster Risk Management, South Asia Region, World Bank. “But there is an opportunity to significantly reduce carbon emissions and reduce energy demand and position India as a green manufacturing hub. Heat has a negative impact on GDP and productivity,” he added. “We looked at the opportunities for the private sector. We see it could go up to $1.6 trillion. Components of things like air conditioners and ceiling fans can be manufactured in India,” he added.