Is India the Leading G20 Nation in Sustainability Efforts and Global Trade Talks?
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Synopsis
India, under Piyush Goyal, is making waves as a top G20 performer in sustainability and trade. With ambitious renewable energy goals and ongoing global trade talks, find out how India is positioning itself on the world stage.
Key Takeaways
- India is a leading G20 performer in sustainability.
- Free trade agreements are being negotiated globally.
- Renewable energy goals have been increased significantly.
- Prime Minister Modi played a critical role at COP21.
- India is focused on becoming self-reliant.
New Delhi, Sep 2 (NationPress) India stands out as one of the top-performing G20 countries in fulfilling sustainability commitments, according to Union Commerce and Industry Minister Piyush Goyal. He also mentioned the nation's efforts to strengthen trade relationships worldwide.
During his address at the CII’s 20th Global Sustainability Summit, the minister highlighted that free trade agreements (FTAs) have been successfully finalized with Mauritius, Australia (first tranche), the EFTA bloc, the UK, and the UAE. Ongoing negotiations are taking place with the European Union (EU), Chile, Peru, New Zealand, Australia (second tranche), and Oman, as well as discussions with the US regarding a bilateral trade agreement.
Goyal acknowledged Prime Minister Narendra Modi's significant contribution to the success of COP21, stating, “Without his active participation, COP21 might not have achieved its goals.” Modi united the global south, emphasizing the collective responsibility of all nations in sustainability initiatives.
The minister reiterated India's unwavering commitment to sustainability, revealing that renewable energy targets have been increased five-fold since 2014. India has successfully established a national interconnected grid based on the principle of “One Nation, One Grid.”
In terms of renewable energy achievements, Goyal mentioned that India is on track to meet its renewable energy goals ahead of schedule, with 50 percent of its renewable energy capacity already installed.
India aims to achieve 500GW of renewable energy by 2030, driven by 'Make in India' initiatives, self-sufficient manufacturing, and rapid innovation.
He pointed out that renewable energy is now available at globally competitive rates in India, priced between Rs 4.60 and Rs 5.00 per kWh for a 24-hour clean energy supply. Goyal emphasized that pursuing both coal and renewable energy is not contradictory, noting that transparent bidding processes have reduced solar power prices from Rs 7-8 to Rs 2.41.
The minister called on startups to develop innovative solutions for issues like water harvesting and energy efficiency. He referenced the UJALA scheme launched in 2015, which replaced incandescent bulbs with LED bulbs, demonstrating how small initiatives can lead to significant impacts.
Goyal also assured that India's supply chains are resilient, making the country Atmanirbhar (self-reliant) and confident in tackling global challenges.
Regarding expected GST reforms, he stated that they would enhance consumption and demand. With strong government support for infrastructure development, he believes India’s robust macroeconomic fundamentals will enable the country to exceed all forecasts.
While acknowledging potential challenges, Goyal expressed confidence in India's ability to navigate volatile and uncertain times.
Point of View
It's evident that India's commitment to sustainability and trade growth positions it as a proactive player on the global stage. The government's strategies reflect a robust approach to overcoming challenges while paving the way for future economic resilience and environmental responsibility.
NationPress
02/09/2025
Frequently Asked Questions
What initiatives has India taken to promote sustainability?
India has increased its renewable energy targets five-fold since 2014 and has established a national interconnected grid under the principle of 'One Nation, One Grid.'
How is India enhancing its global trade relations?
India is negotiating several free trade agreements with countries like the EU, Chile, and the US, expanding its trade ties significantly.
What role did Prime Minister Modi play in COP21?
Prime Minister Modi was instrumental in uniting the global south and advocating for sustainability efforts at COP21, leading to its success.
What are India's renewable energy goals for 2030?
India aims to achieve 500GW of renewable energy by 2030, driven by 'Make in India' initiatives and self-reliant manufacturing.
How does India ensure the resilience of its supply chains?
India is focused on becoming Atmanirbhar, which includes building robust supply chains that are independent of external influences.
