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In the emerging landscape of Industry 5.0, the integration of innovative technologies such as Cognitive Digital Twins (CDTs) is pivotal for steering industrial processes towards sustainability and inclusivity, particularly in developing nations striving to align with Sustainable Development Goals (SDGs). The study explores the transformative capabilities of CDTs in Industry 5.0, concentrating on India's quest for inclusive and sustainable industrialization in alignment with SDGs. The inclusion of the TOE-HOT framework enriches the research's analytical foundation, providing a nuanced perspective to investigate the multifaceted dynamics of technology, organization, environment, and human aspects within the sphere of industrial evolution. By employing the Best-Worst Method (BWM), Interpretive Structural Modelling (ISM), and MICMAC analysis, the study delves deep into the synergies between industrial strategies, technology, and sustainable development. The findings reveal the paramountcy of the Technological Dimension, emphasizing CDTs strategies like real-time optimization and data analytics, which are instrumental in dynamically adjusting manufacturing processes and fostering alignment with market demands. The research also stresses the roles of various CDTs strategies like strategic alignment, change management, job security, skill augmentation, and environmental compliance in industrial sustainability and inclusivity. The paper concludes with invaluable insights for policymakers, industry leaders, and researchers, emphasizing the necessity for a holistic, interconnected approach to fully harness the potential of CDTs in realizing the aspirations of Industry 5.0 and contributing to India's sustainable industrial advancement by 2030. [ABSTRACT FROM AUTHOR]