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Time of India
07-05-2025
- Business
- Time of India
India at the forefront of global energy transition: Piyush Goyal, ET EnergyWorld
Advt Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETEnergyworld App Get Realtime updates Save your favourite articles Scan to download App New Delhi: India is at the forefront of global energy transition and solar power alone has grown over 30 times in the last decade, Union Minister of Commerce and Industry, Piyush Goyal , said on Tuesday, adding that the country achieved renewable energy targets of 2030 eight years ahead of the 'Columbia India Energy Dialogue' here, the minister highlighted India's leadership role in the global energy transition and reiterated the country's commitment to inclusive and equitable climate underscored the collective responsibility of all nations in tackling climate change. "At the end of the day, the energy transition is something we all must contribute to. While the level and speed of transition will differ based on the developmental stage of each country, the commitment must be universal," he minister stressed that climate change is a real and urgent challenge and that each nation must craft its own unique solutions."Pathways may be different, but the recognition of the problem is universal. India has consistently taken a leadership position. I suspect COP21 would not have had any concrete outcome without Prime Minister Shri Narendra Modi rallying the Global South and making them part of the solution rather than being adversaries to it," the minister told the also lamented that the promises made by developed nations at the Paris Agreement have largely remained unfulfilled."Since 2015, the larger issue has not just been climate change, but the failure of the developed world to deliver on technology transfers, long-term concessional climate financing, and support under the principle of Common But Differentiated Responsibilities (CBDR)," he India's achievements, Shri Goyal said, "India accounts for only 3 per cent of global carbon emissions , despite supporting 17 per cent of the world's population"."We achieved our 2030 renewable energy target of 200 GW in 2022 itself-eight years ahead of schedule. Solar power alone has grown over 30 times in the last decade. India continues to submit its reports to the UNFCCC on time, setting an example for global compliance," he minister emphasised the critical need to address the root causes of carbon emissions, particularly overconsumption and waste. "Excess consumption, especially in high-prosperity nations, leads to systemic carbon emissions-from farm to plate. Every step-production, packaging, transport, storage, and disposal-adds to emissions. This behavioural pattern must be addressed," he India's commitment to the clean energy transition, Goyal highlighted the achievement of a 500-gigawatt interconnected national grid. This was made possible by Prime Minister Narendra Modi's 2014 initiative to connect all regional grids and invest billions of dollars in creating a unified national power infrastructure.
The Hindu
06-05-2025
- Business
- The Hindu
Goyal reiterates India will retaliate against carbon tax
Commerce and Industry Minister Piyush Goyal once again warned that India would retaliate with taxes of its own if Europe goes ahead with its Carbon Border Adjustment Mechanism (CBAM) plan. The CBAM is basically a mechanism through which European countries would impose a carbon tax on select imports. 'If they put in a carbon tax, we will retaliate,' Mr. Goyal said, while speaking at the 2025 Columbia India Energy Dialogue, hosted by Columbia University's Center on Global Energy Policy. 'They will put it on products that will hurt their economy and the retaliation will be on products which will further hurt their economy.' Mr. Goyal has previously — as far back as 2023, for example — also spoken about how India would retaliate to CBAM. 'India has contributed to only 3-3.5% of the carbon emissions,' he said on Tuesday. 'We support 17% of the world population. Yet, if we are going to be asked to contribute at the same level as a European company, I think that is going to be patently unfair, improper and irregular.' However, at a time when India has successfully concluded a Free Trade Agreement with the United Kingdom on Tuesday, Mr. Goyal painted a fairly rosy picture of the trade talks with the U.S. and Europe as well. 'Trade talks with Europe are continuing well and are separate from climate issues,' he said, adding that talks with the U.S. are 'going fabulously well'. India is in talks with both regions to conclude trade agreements with each.
