India to lead G20 sustainable development agenda with new initiatives

India is positioning itself as a driving force within the G20's efforts to advance global sustainability, according to Union Minister of Commerce and Industry Piyush Goyal. Addressing delegates at the 20th Global Sustainability Summit in New Delhi, Goyal emphasised India's commitment to balancing renewable energy targets, as reported by ANI, a partner of TV BRICS.

According to the official data, the country's renewable energy aspirations have increased fivefold since 2014. This achievement was supported by the creation of a nationwide interconnected power grid under the "One Nation, One Grid" initiative, designed to optimise energy distribution and reduce reliance on fossil fuels.

The Indian power sector is experiencing accelerated progress, with Goyal noting that 50 per cent of the nation's electricity generation capacity is now operational with renewable energy sources. The country is aiming to achieve 500 GW of installed renewable energy capacity by 2030.

This target is intended to be met through the "Make in India" initiative, fostering domestic manufacturing of renewable energy components, driving self-reliance in the sector, and encouraging rapid technological innovation. This will not only promote green energy production but also create new employment opportunities across the value chain.

Goyal has also acknowledged the vital contributions of all segments of Indian society to achieving these goals, highlighting the roles played by young entrepreneurs, farmers, and small business owners in contributing to the nation’s recent 7.8 per cent GDP growth.

According to the expert, currently, India accounts for 18 per cent of global economic growth, and the current economic status is estimated at US$15 trillion at purchasing power parity.

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