Union Minister Piyush Goyal highlighted the significance of economic development banks providing low-cost financing for sustainability and renewable energy projects, which will lead to economic opportunities and job creation
India's leadership is committed to integrating the nation into the global economy, and renewable energy plays a central role in this endeavour, Union Minister Piyush Goyal said on Friday.
By forging an "unprecedented and historic" consensus on the first day of the G20 leaders summit, India sent a strong message to the world that it has arrived, the commerce and industry minister said.
The G20 adopted the New Delhi Leaders Summit Declaration on September 9, which is seen as a major breakthrough amid conflicting world views on the ongoing Russia-Ukraine war.
"Every global leader from both sides of the divide in a very broken world wanted Prime Minister Narendra Modi and the G20 presidency of India to succeed, and we were able to forge an unprecedented and historic consensus on the first day itself of the G20 leaders summit, sending a strong message to the world that India has arrived," Goyal said.
He said the world also has seen India's capacity and capability, whether it was during the Covid pandemic or tackling the challenges that have emerged from the conflict in Ukraine.
"...the world has seen India's leadership led by Prime Minister Narendra Modi, has seen the capability of 140 crore Indians to be able to provide the world with a better deal," the minister said.
Goyal also took a jibe at certain opposition political parties "who were almost being gleeful" that India will not be able to have an outcome document.
He said the nation endorses the effort being made to position India as a global leader, and this was too unfortunately sought to be politicised.
The minister further said the larger companies in the renewable energy space should be looking at integrating with global companies by engaging in collaborations and partnerships.
On agricultural exports, Goyal said agri-related exports crossed over $50 billion last year and are expected to grow significantly in the years to come.
The minister stressed implementing outcomes emphasising clean, sustainable, just, affordable, and inclusive energy transition outlined in the G20 New Delhi Leaders' Declaration while addressing a CII Conference on Clean Energy.
Goyal expressed India's commitment to global leadership, breaking boundaries, and bringing the world closer together through initiatives like the India Middle East Europe Economic Corridor, green hydrogen and connectivity projects.
He stressed that India is not just looking to participate in global supply chains but also to contribute significantly to making the world more sustainable, inclusive, and interconnected.
He quoted the Prime Minister and said, "Businesses have successfully gone beyond borders and boundaries, but it is now time to take businesses beyond the bottom line. It can be carried out by focusing on supply chain resilience and sustainability".
Goyal urged the attendees to focus on capturing more global markets by executing renewable energy projects.
He said that from the theme of this conference where we are looking at creating global champions for advancing clean energy, innovation, and manufacturing, innovation is the key word that really defines India's forward-looking and modern approach.
The minister highlighted that India possesses the engineering expertise and potential to participate actively in renewable energy projects worldwide, be it through engineering, consultancy, or Engineering, Procurement and Construction (EPC) contracts.
He emphasized that India has the opportunity to become a world leader in the renewable energy space and urged larger companies to collaborate and partner with other countries in achieving global energy transition goals.
Goyal proudly spoke of India's G20 presidency under the leadership of the Prime Minister, which has allowed India to champion the cause of emerging markets and bring their issues to the forefront.
He praised the nation's efforts to create economic opportunities, generate jobs, and improve the quality of life for millions. The focus on clean energy in G20 decisions is essential for addressing climate change and natural disasters and ensuring a better future for all.
Goyal said that the Prime Minister has already got into action to work on the deliverables decided under India's G20 presidency, which are unprecedented. He sought active participation and contribution from all the stakeholders for the implementation of the deliverables.
The minister said it is a matter of pride that the Prime Minister could bring African countries to the G20 and it is heartening to learn that Brazil is going to continue along this line. He said that the G20 now has become a forum to impact the life of the common man in India and in developing countries.
He also highlighted the significance of economic development banks providing low-cost financing for sustainability and renewable energy projects, which will lead to economic opportunities and job creation.