India has huge market for clean energy tech: PM Modi

Munich/New Delhi:: Prime Minister Narendra Modi on Monday urged the rich G-7 nations to assist India in advancing its climate commitments. He said that a sizable market for clean energy technologies is developing in India, and that the G-7 nations can invest in manufacturing, research, and innovation in this area.

Speaking at the G7 plenary session on "Investing in a better Future: Climate, Energy, and Health" at Schloss Elmau, he claimed that despite making up 17% of the world's population, India only contributes 5% of the world's carbon emissions because of its people's coexistence with nature-based way of life.

"Our performance shows how committed we are to our climate commitments. Nine years earlier than expected, we reached the goal of 40% of our energy coming from non-fossil sources. Five months ahead of schedule, the goal of blending 10% ethanol into petrol was achieved. The first airport entirely powered by solar energy is located in India. The vast Indian railway network will reach net zero in this decade, the PM said.

PM Modi emphasised that other developing nations "become inspired when a big country like India demonstrates such desire.

"We hope the G-7's wealthy nations will support India's efforts. India is currently developing into a significant market for sustainable energy technologies. G-7 nations may make investments in this area of industry, innovation, and research. Every new technology can be made accessible to the entire world thanks to the scale that India can offer. Indian culture and lifestyle are deeply rooted in the fundamental concepts of the circular economy.

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