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Modi opens India Pavilion at Paris with focus on renewables

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Paris: Prime Minister Narendra Modi on Monday inaugurated the India pavilion at the global climate change conference here, showcasing the country’s commitment to renewable energy for which a target of 175 GW of additional capacity has been set by 2022.

“The India Pavilion at COP-21 has used technology to showcase India’s commitment to climate change and focus on climate justice,” Modi said.

“The India pavilion also seeks to demonstrate the strong belief that the world needs to look beyond climate change and focus on climate justice.”

He said the pavilion also displays the country’s harmony with nature and environment, and added: “Summit is of great significance to India’s future. It is a window to our tradition, progress, aspirations and achievements.”

The prime minister, who said climate change was a major global challenge, also launched a coffee table book “Parampara”. He said India looked at the Paris convention with both commitment and hope.

The Indian prime minister is here for what is officially called the 21st Session of the Conference of Parties (COP-21) under the United Nations Framework Convention on Climate Change, with 196 member states.

“We want the world to act with urgency. The agreement must lead us to restore the balance between humanity and nature,” the prime minister said. “India’s progress is our destiny and right of our people. But we must also lead in combating climate change.”

India, he said, will ensure 40 percent of installed energy capacity is based on non-fossil fuels.

“We have a target for renewable generation of 175 Gigawatt by 2022. We have got off to a good start, with nearly 12 GW likely to be installed by 2016, more than three times the current capacity,” he said.

“We will convert waste to energy. We will make our cities smart and sustainable, and transform public transportation, including through 50 new metro rail projects,” he added.

“We approach the negotiations under the United Nations Framework Convention on Climate Change in a spirit of partnership, based on the principles of equity and common but differentiated responsibility.”

(IANS)

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Big reforms made India fastest growing major economies globally: Garg

It also has enormous implications for emerging markets and developing countries

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The RBI building in Mumbai. Photo credit: AFP/Sajjad Hussain

The major reforms undertaken by the Indian government for raising economic growth and maintaining macroeconomic stability have made the country one of the fastest growing major economies in the world, said Subhash Chandra Garg, Secretary, Department of Economic Affairs (DEA).

Garg was addressing the Special Event hosted by US-India Strategic Partnership Forum on ‘Indian Economy: Prospect and Challenges’ in Washington D.C on Friday.

Indian economy needs big reform.

He said the launch of the Goods and Services Tax (GST) represented an “historic economic and political achievement, unprecedented in Indian tax and economic reforms, which has rekindled optimism on structural reforms.” He further emphasized that India carried-out such major reforms when the global economy was slow.

“With the cyclical recovery in global growth amid supportive monetary conditions and the transient impact of the major structural reforms over, India will continue to perform robustly,” Garg said.

During his meetings, Garg highlighted that the digital age technologies have profound implications for policies concerning every aspects of the economy. It also has enormous implications for emerging markets and developing countries.

Also Read: Biggest Bank Frauds Which Shook The Indian Economy

He expressed that the response to such a transformation will have to shift from ‘catch up’ growth to adoption/adaption of digital technologies for development and growth.

Garg also informed that India has started adopting policies and programmes for transforming systems of delivery of services using digital technologies and connecting every Indian with digital technologies and access through Aadhaar and other such means.

Indian economy should be on rise. www.mapsofindia.com

While citing the example of expanding mobile data access, he mentioned that India is now the largest consumer of mobile data in the world with 11 gigabytes mobile data consumption per month. He informed that India is investing in digital technologies, encouraging private sector to adapt these technologies and also addressing the taxation related issues by introducing equalisation levy.

Garg is currently on an official tour to Washington D.C. to attend the Spring Meetings of the International Monetary Fund and the World Bank and other associated meetings. He is accompanied by Urjit Patel, Governor, Reserve Bank of India and other senior officials. IANS

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