Low-carbon economy is a system that aims to mitigate the adverse impacts of climate change, through reduced carbon emissions tied along with economic development. The concept of low-carbon economy is inclusive of sustainable development, circular economics, ecological economics, and environmental economics. The development to a low-carbon economy is vital to transform the global industrial base, including manufacturing, power and energy, transport and construction sectors. Globally, various governments and businesses have witnessed a shift in trend toward adopting green and clean energy solutions with reduced carbon emissions. Innovations along with demand-focused policies favoring low-carbon economy are vital for its wider adoption.