Green Entrepreneurship for Sustainable Development: A Study on Green Companies In India

Abstract

There has been a paradigm shift in the Indian market as attention has switched to issues relating to climate change, sustainable development, and other environmental concerns. Though they are few, consumers like green goods over conventional ones. Green enterprises have emerged because of this. They are the ones who are bringing about change by raising public awareness of green technologies and sustainable development Purpose. The purpose of this essay is to examine the concept and constituents of green entrepreneurship. It examines the interrelationships between socioeconomic, environmental, and green entrepreneurial elements that produce sustainable green economies. It tries to look into green innovation facilitators, as well as its advantages and disadvantages. Methodology: Because the study is exploratory in nature, it makes use of secondary data, including five thoroughly case histories of green business owners to examine their main motivations and challenges. Findings: The study shows that environmental, social, and economic objectives guide green businesses. Lack of funding, high investment costs, a lack of expertise about green technologies, and trouble entering the market due to high expenses are the challenges to green entrepreneurship. Research Limitations: The research's scope is limited because the financial information for these green programs is not publicly available, making it unknown how profitable they are. Originality: The study suggests that in order to stimulate green entrepreneurship, policy reforms must be made along with raising knowledge of the negative effects of present production and consuming practices in the early stages of education.