Indian Economy News

Developed and developing countries must have different goals and timelines while being sensitive to each other's needs, potential goals, and roadmap towards sustainability: Mr. Piyush Goyal

  • IBEF
  • March 2, 2023

Mr Piyush Goyal, Union Minister of Trade and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, stated that developed and developing nations must have different schedules and goals while being considerate of one another's requirements, prospective goals, and sustainability roadmap. The Special Plenary Session of the India Europe Business and Sustainability Conference hosted by the Confederation of Indian Industry (CII), took place in New Delhi. He also emphasised that when it comes to benchmarking our work and meeting the Nationally Determined Contributions (NDCs), India has been among the top 5 performers. He believed that technology, economics, and sustainable lifestyles will all be crucial in maintaining sustainable growth.

According to him, India's collaboration with the UK and the EU is essential in the effort being made worldwide to make the planet safer and greener. He reaffirmed India's commitment to making sure that inclusiveness and sustainability characterised India's growth story. The Minister encouraged all company executives to prioritise sustainability and ensure that their actions respect the environment. He emphasised that sustainability was the foundation of any company's long-term value proposition since it would protect stakeholders and position us for a brighter future. According to the minister, high levels of consumption and waste production are the major contributing factors to the climate catastrophe. He asserted that a concerted effort was the only way to address the climate crisis and create sustainable growth.

He also pointed to the recycled plastic jacket that was given to the Prime Minister during Energy Week and said that the Prime Minister had worn it to Parliament as a sign and encouragement for us all to support the Green Movement. He noted Prime Minister Narendra Modi's commitment to Zero Defect & Zero Impact Manufacturing, emphasising the importance of quality and sustainability in India's development. The Minister claimed that the Prime Minister's goal of providing prosperity to every person in the nation included inclusive growth as part of his vision. Mr. Goyal emphasised the 1.4 billion consumers in India who see sustainability as a key component of long-term growth. The European Union (EU), The Netherlands, Malta, and the United Kingdom participated in the Special Plenary Session of the India Europe Business and Sustainability Summit (UK).

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.