India is one of the best-performing G20 nations in meeting our sustainability commitments, stated Union Minister of Commerce and Industry, Piyush Goyal, at CII’s 20th Global Sustainability Summit in New Delhi. Goyal emphasised that India continues to remain firmly committed to its sustainability goals, upscaling renewable energy targets five-fold since 2014 and successfully creating a national interconnected grid under the principle of “One Nation, One Grid.”
Highlighting achievements in the power sector, he noted that India is achieving renewable energy goals well ahead of schedule, with 50% renewable energy capacity already installed. The Minister called on startups to innovate solutions for challenges such as water harvesting and energy efficiency. Goyal further said that India’s supply chains are resilient, and the nation is not at the mercy of any other country choosing to switch on or switch off the tap. This, he said, is making India Atmanirbhar and self-reliant, building the confidence of young India to take on any challenge the world wants to throw at it.
Goyal stressed that with India contributing 18% to global growth, soon to become the world’s third-largest economy and already a $15 trillion economy in purchasing power parity terms, the country is engaging with the world from a position of strength. He said that India’s future rests on sustainability, high quality, cost competitiveness and inclusive growth that reaches the last person at the bottom of the pyramid. Referring to GST reforms widely anticipated to boost consumption expenditure and demand, Goyal said that with government continuing to support infrastructure creation through huge resource allocation, India’s strong macroeconomic fundamentals will enable it to beat every estimate that economists or pessimists may come up with. He noted that challenges will arise, but India’s ability to take on volatile and uncertain times has only increased.