India Ranks Among Top G20 Performers In Sustainability Commitments: Piyush Goyal

2025-09-03 02:06:39

(MENAFN- KNN India) New Delhi, Sep 3 (KNN) Commerce and Industry Minister Piyush Goyal positioned India as one of the best-performing G20 nations in meeting sustainability commitments during the 20th Global Sustainability Summit organised by the Confederation of Indian Industry (CII) in New Delhi.

The minister emphasised India's leadership role in global environmental initiatives and outlined the country's renewable energy achievements.

The minister highlighted that India has already installed 50 percent renewable energy capacity and aims to reach 500 GW by 2030 through domestic manufacturing and innovation.

The minister emphasised that renewable power is now available in India at globally competitive rates of Rs. 4.60 to Rs. 5.00 per kWh for 24-hour clean energy supply.

Goyal noted that transparent bidding processes reduced solar power costs from Rs. 7-8 to Rs. 2.41 per unit, enabling India to offer round-the-clock renewable energy at highly competitive global rates.

He clarified that there is no contradiction in simultaneously pursuing coal and renewable energy strategies.

Goyal called on startups to develop solutions for water harvesting and energy efficiency, citing the UJALA scheme that replaced incandescent bulbs with LED technology as an example of transformational impact through incremental changes.

He highlighted untapped opportunities in textile recycling, noting that less than 1 percent of India's textile waste is recycled while developed countries pay premiums for recycled products.

The minister criticised developed nations for failing to deliver on Paris Agreement commitments, particularly the USD 100 billion annual climate finance pledge.

"The developed world has let us down very badly. In spite of making huge promises at Paris of ensuring trillions of dollars will be available in concessional finance or grants to support the efforts of the developing world, we are yet to see any of these commitments fulfilled," Goyal stated.

Goyal concluded by emphasising that India's future competitiveness depends on sustainable pathways, energy efficiency, and responsible consumption.

(KNN Bureau)

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