World see India as attractive destination for renewable energy investments: Bhupender Yadav

New Delhi [India], March 15 : Green technologies are set to unleash an unprecedented wave of disruption, propelling the Indian economy towards a sustainable future, said Union Minister for Environment Bhupender Yadav on Wednesday.

Speaking at the 28th edition of the Partnership Summit orgzed by the Confederation of Indian Industry (CII), Yadav said that the world has started to recognise India as an attractive destination for renewable energy investments.

"The substantial investments in India's green energy system are not only in financial terms but also in terms of knowledge sharing. A number of countries have initiated discussions or have already started to work with India on green partnerships," he added.

The 28th edition of The CII Partnership Summit is being held in partnership with Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India from 13 -15 March 2023.

The event is expected to further the agenda of strengthening partnerships and shaping new economic collaborations between countries, as well as among businesses.

It would be a vibrant forum for discussions on matters of global interest, under the theme "Partnerships for Responsible, Accelerated, Innovative, Sustainable and Equitable Businesses".

He further said that the country has demonstrated global leadership on promoting renewable energy and adapting to the damage caused by climate change and is looking beyond borders through international initiatives such as the One Sun One World One Grid, The International Solar Alliance, and the Coalition for Disaster Resilient Infrastructure, all aimed at strengthening international cooperation to tackle climate change.

He also said that innovative technologies enhancing public electric transport, carbon capture and storage, green hydrogen in the energy transition, accessible solar power, LED light efficiency, plastic recycling, energy storage, big data and analytics are shaping the sustainability agenda.

"India also launched the National Hydrogen Mission which encourages the use of hydrogen as a fuel. With a target of producing five million tonnes of green hydrogen by 2030.This puts India on the track to becoming the Global Hub for production, usage and export of Green Hydrogen and its derivatives. It also contributes to India's aim to become Aatmrbhar through clean energy and serve as an inspiration for the global Clean Energy Transition," the Union Minister said.

Chandrajit Banerjee, Director General, CII stated that the CII Partnership Summit with over 35 sessions is discussing international collaborations and partnerships for mutual growth.

"There are many international speakers, almost 400 overseas delegates and all the G20 nations represented," he added.

Banerjee also highlighted the key initiatives of the Government like the Mission LiFE- Lifestyle for Environment, that aims to promote sustainable lifestyles and consumption patterns globally to address climate change.