Eco-Entrepreneurship: A study on Opportunities and Obstacles in Indian Context

Abstract

Introduction: Environmental degradation is a serious threat to the lives of people, plant, and animals, and business and industry are often viewed as one of the largest contributors. Ecopreneurship, also known as ecological entrepreneurship, is a revolutionary form of operating businesses that brings together economic success with environmental responsibility, and is emerging as a crucial driver of India's green economy. The study seeks to understand the concept of ecopreneurship, to study the role of ecopreneurs in the Indian scenario, to examine real world case studies, and to provide suitable recommendations to improve ecopreneurship in India.

Methodology: This research comes under the category of descriptive research method. The paper is purely based on secondary data, collected from various websites, online journals and academic materials, and government reports. The current situation of ecopreneurship in India is examined by analysing patterns and case studies, covering the typologies of green entrepreneurship identified by Khare (2003), a list of ten Indian ecopreneurial ventures classified by state, founder, sector and key innovation, area-wise climate change solutions, sector-wise and product-wise market growth and market size, the highlights of Union Budget 2025 relevant to green entrepreneurship, and existing government schemes. Due to the descriptive nature of the research, the study is composed of secondary data only, and statistics are provided only based on the data's accessibility.

Results & Discussion: Four categories of green entrepreneurs were identified by Khare (2003): visionary champion, ad-hoc enviropreneur, ethical maverick, and inventive opportunist. The documented ventures include Phool.co, ReNew Power, Bare Necessities, Husk Power Systems, EcoRight, Startup Farms, Zerocircle, Flycatcher Technologies, NEPRA and Tonbo Imaging, spanning waste management, renewable energy, sustainable agriculture, biodegradable packaging and sustainable fashion. For 2024, India has 1.76 Mn hectares of organic farming land, generated around 0.5 of its total electricity from waste, and recorded an increase of renewable energy by 30%. The market for ecopreneurs in waste management and renewable energy is expanding with a forecast CAGR of about 12.5%, renewable energy growing at 8.7% with a market size of $22 bn and waste management at 6.5% with $13.1 bn, while market size reaches $2.07 bn for the organic sector, $11.9 mn for green packaging and $24 bn for green energy solutions. Union Budget 2025 allocated Rs. 26,549 crores for new and renewable energy and Rs. 600 crore for Green Energy Corridors, and reduced GST on waste processing equipment from 18% to 5%. Reported obstacles include greenwashing scrutiny, complex ESG reporting, permitting delays, high upfront costs, limited access to green finance and lack of skilled people.

Conclusion: In India, ecopreneurship offers a unique set of potential and difficulties. The opportunity for eco-friendly businesses is growing as a result of growing customer preference for sustainable products, government assistance through programs like Startup India and other green initiatives, and growing environmental awareness. The rise of ecopreneurial ventures is nevertheless hampered by obstacles like expensive startup costs, restricted access to green funding, low consumer awareness in rural areas, and complicated regulations. Government, business, and civil society must work together to build an environment that encourages sustainable entrepreneurship. India can become a global leader in ecopreneurship by utilizing technology, encouraging innovation, and putting robust policy measures in place.