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India’s Historic Renewable Energy Agreement Shines at G20 Leaders Summit, Signals Global Leadership Ambitions

On September 15, Union Minister Piyush Goyal emphasized the crucial role of renewable energy in India’s leadership’s goal of integrating the nation into the global economy. India delivered a clear message to the world that it has arrived by generating an “unprecedented and historic” agreement on the first day of the G20 leaders conference, the commerce and industry minister said. On September 9, the G20 endorsed the New Delhi Leaders Summit Declaration. Many consider this declaration a major breakthrough, particularly in light of the varying global perspectives on the ongoing Russia-Ukraine conflict.

Goyal announced an unprecedented and historic consensus achieved on the first day of the G20 leaders summit. This sent a strong message worldwide that India has arrived. “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,” Goyal said. He claimed that the world has witnessed India’s potential and capability during both the Covid pandemic and the challenges posed by the situation in Ukraine.

The minister stated that “…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.”

Goyal also made fun of several opposing political groups, calling them “almost gleeful” at the fact that India won’t be able to provide an outcome document.

He stated that various attempts were made to politicize India’s positioning as a global leader, but the public supported the effort.

Additionally, larger renewable energy firms should collaborate with multinational corporations.

Speaking at the CII Conference on Clean Energy, he emphasized implementing the G20 New Delhi Leaders’ Declaration for a sustainable, affordable, and inclusive energy transition.

Goyal highlighted India’s commitment to global leadership through projects like the India Middle East Europe Economic Corridor, green hydrogen initiatives, and connectivity projects. He stressed India’s ambition to contribute significantly to a more inclusive, sustainable, and interconnected world, going beyond mere participation in global supply chains. “Businesses have successfully gone beyond borders and boundaries,” he remarked, quoting the prime minister, “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 advised the audience to concentrate on executing renewable energy projects to expand into more international markets. He claimed that, in keeping with the conference’s subject of developing global champions for pushing clean energy, innovation, and manufacturing, the word “innovation” is the one that best captures India’s forward-thinking and contemporary attitude.

The minister emphasized that India possesses the engineering know-how and potential to engage actively in global renewable energy projects, spanning engineering, consulting, and EPC contracts. He stressed India’s potential to lead in renewable energy worldwide, encouraging larger corporations to collaborate and form partnerships with other nations to advance global energy transition goals.

Goyal proudly discussed India’s G20 Presidency under the Prime Minister’s leadership. This role has enabled India to advocate for emerging nations and address their unique challenges. He praised the nation’s initiatives to expand economic possibilities, create jobs, and increase millions of people’s standards of living. The G20 should prioritize sustainable energy in order to combat climate change, prevent natural disasters, and ensure a better future for all.

According to Goyal, the Prime Minister has already started working on the ground-breaking deliverables decided upon during India’s G20 Presidency. For the implementation of the deliverables, he asked for the active involvement and input of all the stakeholders. The minister praised the Prime Minister for inviting African nations to the G20, noting it as an accomplishment. Additionally, he expressed encouragement over Brazil’s commitment to this path, highlighting that the G20 has evolved into a platform that influences the lives of ordinary people in India and other emerging nations.

Stressing the significance of economic development banks offering affordable financing for sustainability and renewable energy projects, he noted that this step would pave the way for business opportunities and job creation. This, he said, would open up business opportunities and create jobs.

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