Sustainable finance from foreign actors into renewable energy and economic growth: An Indian perspective

Kohli, Anita; Wadhwa, Ritu; Tripathi, G. C.

doi:10.47974/JSMS-1154

Open Access Research Article

Sustainable finance from foreign actors into renewable energy and economic growth: An Indian perspective

^*Anita KohliCorresponding authoranita19009@gmail.comAmity Business SchoolAmity UniversityNoida, Uttar Pradesh, IndiaView full profile → , Ritu Wadhwarwadhwa1@amity.eduAmity Business SchoolAmity UniversityNoida, Uttar Pradesh, IndiaView full profile → , G. C. Tripathigireesh.tripathi@nsb.ac.inSchool of BusinessNTPC, Noida, Uttar Pradesh, IndiaView full profile →

* Corresponding author · click or hover a name for details

pp. 1015–1028Vol. 26Issue 5July 2023DOI: 10.47974/JSMS-1154XML

Published Online:: 20 Sep 2023
Article type:: Research Article
Language:: EN
Article no.:: JSMS-1154
Pages:: 1015–1028

Abstract

Energy is a basic ingredient to the economic growth story. Given the increased climate change risk, India like all other countries must transit from fossil -based energy to renewable energy. The transition requires large investments from domestic and foreign actors. The major source of sustainable finance from foreign actors is through the Foreign Direct Investment and External Commercial Borrowings routes. This study analyses the causal relationship between ‘Foreign Direct Investment and Economic Growth’ and ‘External Commercial Borrowings and Economic Growth’ in India in Renewable Energy sector, also explores the causal relationship between Foreign Direct Investment and External Commercial Borrowings. The study will help in recommending policy changes to increase Foreign Direct Investment and External Commercial Borrowings into Renewable Energy in India.

Keywords

Sustainable finance Sustainable investments Renewable energy Foreign direct investments External commercial borrowing

Subject Classifications

91G4591G99

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