Pollution means big profit for businesses
Toxic air in Delhi is big business opportunity for businesses selling air purifiers and pollution masks. When government fails to provide public goods, it gives birth to big markets.
When Government fails to control the mosquitoes, it helps business develop an INR 4400crore market for mosquito repellents. When government fails to provide clean drinking water, it allows businesses to build an INR 30,000crore market. Government only provides 15% of the healthcare, which has given birth to more than INR 6,00,000crore private health care market. Lack of law and order means an INR 40,000crore private security market. India’s private housing market is the second biggest employer, but it is unable to provide housing to the masses. India’s real estate industry will be around $ 1trillion (INR 70lakh crore).
Sunita Narain heads Centre for Science and Environment. She suggests,” But the real and long-term answer will be in moving completely out of coal and other dirty fuels to cleaner natural gas or electricity. And in moving us from cars to massively augmented and well-connected public transport. This system has to be affordable for the poor and convenient, modern, and safe for the rich.”
By developing public transport and clean every, government can improve the environment and also provide public good. It can partner with private players, which will help build businesses like Tesla of USA. Government of the USA fuelled the electric car movement of USA. Tesla also got rebates worth INR 35,000crore approx. Indian government through its financial arm Sidbi is already investing in startups.