Assessing the Role of Green Economic Opportunities on Sustainable Development in SAARC and Observer Countries

Abstract The term "green economy" has become increasingly popular worldwide, leading many countries to prioritise environmental issues and adopt it as their primary economic model. One of the few countries concentrating on sustainable development and undergoing fast economic expansion is India. "Green growth" is the encouragement of economic growth while maintaining the vital environmental protection provided by natural resources. Sustainable development, a sustainable environment, and environmental balance are all addressed by the green economy. India's tremendous expansion over the past ten years has raised living standards and produced job opportunities. However, a declining environment and decreasing natural resources have limited its impressive development record, necessitating significant measures to establish a green and decarbonized economy. A development approach known as the "green economy" combines ecological sustainability with economic growth. More and more economic activity is being conducted in contemporary settings, which is frequently associated with adverse environmental effects. Numerous projects and strategies targeted at the creation of a green economy have been sparked by this trend. A genuine concern is the examination of the primary obstacles in the areas of environmental and economic development, as well as public strategies for a green economy. Green growth and the green economy are increasingly reflecting worldwide tendencies for sustainable development.