Renewable energy can play central roIe in global economic integration: Piyush Goyal

India possesses engineering expertise and potential to participate actively in renewable energy projects worldwide, union minister of commerce and industry, consumer affairs, food and public distribution, and textiles, Piyush Goyal has said.

Delivering the keynote address at the ‘MNRE- CII: 4th International Conference and Exhibition on Clean Energy in New Delhi on Friday the minister said India's leadership is committed to integrating the nation into the global economy, and renewable energy plays a central role in this endeavor. He was speaking at the session on ‘Positioning Bharat as Partner in achieving Global Supply-Chain Resilience.

Stressing on implementing clean, sustainable, just, affordable, and inclusive energy transition outlined in the G20 New Delhi Leaders' Declaration, Goyal expressed India's commitment to global leadership, breaking boundaries, and bringing the world closer together through initiatives like the India Middle East Europe Economic Corridor, green hydrogen and connectivity projects.

India, he said, is not just looking at participating in global supply chains but also to contribute significantly to making the world more sustainable, inclusive, and interconnected. He quoted Prime Minister Narendra Modi and said, “Businesses have successfully gone beyond borders and boundaries, but it is now time to take businesses beyond the bottomline. It can be carried out by focusing on supply chain resilience and sustainability”.

Goyal urged investors to focus on capturing more global markets by executing renewable energy projects. The Conference, he sdaid, is aimed at creating global champions for advancing clean energy, innovation, and manufacturing, adding that innovation is the key word that really defines India's forward looking and modern approach.

The minister highlighted that India possesses the engineering expertise and potential to participate actively in renewable energy projects worldwide, be it through engineering, consultancy, or engineering, procurement and construction (EPC) contracts. He emphasized that India has the opportunity to become a world leader in the renewable energy space and urged larger companies to collaborate and partner with other countries in achieving global energy transition goals.

Goyal also highlighted the significance of banks providing low-cost financing for sustainability and renewable energy projects, which will lead to economic opportunities and job creation.