Zed-Zero Effect Zero Defect A Pathway to Green Growth for MSMEs in India

Numerous small and medium enterprises (MSMEs) are either not aware of the challenges of climate change that lie ahead, or they do not have the necessary skills to deal with them. Recognising the reality of climate change challenges, the government is coming up with new environmental initiatives. In the face of pressing environmental challenges, green growth as a new source of growth has been intensifying in recent years. Green growth is now imperative in light of the current climate change scenario. MSMEs can be described as the backbone of any economy. Recognising the strategic importance of MSMEs, the Indian government has initiated low carbon green growth pathway. The Make in India campaign with ‘ZED’ is a policy initiative to rate MSMEs which includes energy efficiency, enhanced resources efficiency, pollution control, use of renewable energy, waste management etc. This scheme initiated in 2015, envisaging coverage of about 1 million MSMEs. This research paper has attempted to give an overview of ‘ZED’ policy with a focus on present green growth opportunities available to MSMEs in India.