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Narendra Modi Concludes Japan-US-India Partnership Successful

He said that the three leaders felt that such meetings were useful and they should continue on the margins of subsequent G-20 meetings

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Narendra Modi.

Terming the India-US-Japan partnership as “Jai” (literal: victory), Prime Minister Narendra Modi on Friday said the partnership between the three nations would go a long way in ensuring world peace and prosperity.

“If I put it differently, Japan, America and India is Jai. In Hindi, ‘Jai’ means success,” Narendra Modi said after the first-ever trilateral meet with US President Donald Trump and Japanese Prime Minister Shinzo Abe on the sidelines of the G-20 summit here.

“In a way, Jai (the trilateral meet) is a message of success and we are making a new beginning. Our arrangement I believe, will play a big role in promoting world peace and prosperity,” Modi said.

Narendra Modi said it was a “good occasion” as the three nations dedicated to democratic values met to discuss how to promote peace, prosperity and stability in the world.

“I am glad both US and Japan are our strategic partners. Both the leaders (Turmp and Abe) have been my good friends. It is a good opportunity to work together.

Briefing the media about the meeting Foreign Secretary Vijay Gokhale said that it was a “very warm meeting” and Trump and Abe complimented Prime Minister Modi for the “reforms and development that he has done”.

Donald Trump, democrats, government
U.S. President Donald Trump. VOA

“The three leaders exchanged views on the Indo-Pacific. They all agreed that free, open, inclusive and rules-based order is essential for the regional peace and prosperity. The Prime Minister offered some ideas on how we should take forward on the concept of Indo-Pacific and how the three countries can work together to promote this concept,” Gokhale said.

He said that Modi felt it was necessary that the three countries reach out to all the stakeholders to explain the benefits of Indo-Pacific strategy and their advantages to these countries.

“The leaders also agreed to the central role of Asean and they also agreed to work on maritime and connectivity issues and to synergise efforts in this regard,” Gokhale said.

He said that the three leaders felt that such meetings were useful and they should continue on the margins of subsequent G-20 meetings.

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“Overall, there was a very positive atmosphere and the outcome of this first trilateral has been very encouraging. Prime Minister Modi and the other two leaders were pleased with this outcome,” Gokhale added.

Earlier, making an intervention at the first session of the G-20 meet on global economy, future of work and women’s empowerment, Modi highlighted some of the flagship programmes of his government undertaken to modernise economy and promote inclusive growth, such as Jan Dhan Yojana, MUDRA Yojana and Start-up India. (IANS)

Next Story

Does India’s Giant Step in the Direction of Green Energy Signal an End to Coal?

Coal consumption forecasts have already been downgraded significantly from 2013 projections, and major shifts in energy policy like Modi’s are likely to add significant weight to the idea that India might well become a much bigger player in renewable energy production in the next 20 to 30 years

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FILE - Smoke billows from chimneys of the cooling towers of a coal-fired power plant in Dadong, Shanxi province, China. VOA

When Prime Minister Narendra Modi’s government announced its target to increase India’s renewable energy capacity to an equivalent of 40% of the nation’s total green energy output, it raised eyebrows. Could this mean an end to India’s coking coal industry?

Is there investment for green energy?

For any alternative to coal to be a serious consideration, there must be investment sources. Already India’s renewable target has attracted investors like Japan’s SoftBank, which agreed to a deal to sell power generated from a Northern Indian solar bank at 2.4 rupees per unit – below that of coal power, which currently costs over 3 rupees per unit.

Contrary to the enormous investment in the production of solar panels being manufactured by China, which has made them cheap enough to encourage this Indian growth in solar renewable energy, there has been relatively little investment in Indian coal.

Asia-Pacific
Workers operate machines at a coal mine at Palaran district in Samarinda, Indonesia (VOA)

For instance, state-run NTPC has cancelled several large coal mining projects, including a huge plant in Andhra Pradesh. Meanwhile, the private sector has continued investing in renewables. Adani Power has over $600 million invested in solar panels in the southern state of Tamil Nadu.

That Modi has made an investment of $42 billion in the renewable energy sector over the past four years and his renewables plan is likely to generate a further $80 billion in the green energy sector in the next four years is good news for the Rupee. External investment in India is likely a sign of increased currency transaction in forex trading signalling the Rupee gaining strength against other pairs. Like the Indian economy, millions of dollars are traded on currencies every day, and increased interest in the Rupee helps cement India’s economic and investment potential.

How reliant is India on coal power?

Not so long ago the Indian government had a target to connect 40 million households to the national grid by the end of 2018. It even tasked CIL, the state coal monopoly, to produce over a billion tonnes of coal per year by 2020, an increase of almost 100% from 2016. It’s an ambitious goal, notwithstanding the environmental impacts of mining for such an unprecedented amount of coal. This is the same coal that already generates 70% of India’s primary commercial energy requirement; compare that figure to the UK’s 11%, Germany’s 38%, and China’s 68%, while France has practically shut all of its coal power stations. This means that India’s shift from coal could have important implications for the global climate, and any investors looking towards coal would be making a very brave and risky decision.

Coal
Environmentally, coal isn’t a sustainable source of power, certainly not in current quotas.

The increasing problem with relying on coal

Environmentally, coal isn’t a sustainable source of power, certainly not in current quotas. Clean-up costs could make coal an out-of-date power source sooner rather than later. A report by Oxford University estimated that investors in coal power may lose upwards of half a trillion dollars because assets cannot be profitably run or retired early due to global temperature rises and agreed carbon emission reductions.

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Coal consumption forecasts have already been downgraded significantly from 2013 projections, and major shifts in energy policy like Modi’s are likely to add significant weight to the idea that India might well become a much bigger player in renewable energy production in the next 20 to 30 years – although it’s difficult not to see coal remaining an important power source considering India’s significantly large coal reserves still available in Eastern India.