Impact of Green Finance and Fintech Contributions to Sustainable Economic Growth in India: An Econometric Analysis

Abstract

This study explores how green finance and financial technology (FinTech) support sustainable economic growth in India. It explains that, with increasing environmental challenges, innovative financial tools are becoming important for encouraging environmentally responsible development. The study covers time-series data from 1991 to 2023 and uses advanced methods such as ARDL cointegration and error-correction models. It examines how green finance and FinTech affect environmental sustainability in both the short and long run.

The results show that green finance plays a key role by directing funds toward renewable energy, energy-efficient projects, and eco-friendly technologies. At the same time, FinTech helps by improving financial inclusion, making green investment products more accessible, and increasing efficiency in capital allocation, which indirectly reduces environmental harm. The study also finds a strong relationship between green finance, FinTech, and economic growth, and highlights that coordinated policies are needed to strengthen their overall impact.