Geneva: India minced no words at a key United Nations forum on Tuesday, stating that developed countries are unfairly burdening poor nations in the name of fighting climate change. Union Commerce and Industry Minister Piyush Goyal made this statement while addressing the 16th session of UNCTAD in Geneva.
Goyal directly pointed out that developed countries have not fulfilled their promise made a decade ago in the Paris Agreement to provide $100 billion in assistance. He said that on one hand, these countries are shirking their responsibilities, and on the other, they are creating new obstacles in trade under the pretext of environmental protection.
‘Won’t Accept Barriers in Name of Environment’
The Minister made it clear that India will not accept any unilateral measures that go against the interests of developing countries. This statement comes at a time when the European Union’s Carbon Border Adjustment Mechanism (CBAM) is affecting Indian exports, especially the steel sector.
Goyal held a separate meeting with European Commission Executive Vice President Teresa Ribera Rodriguez. The meeting discussed CBAM’s impact on Indian exports. The Minister clearly stated that moving towards clean energy is necessary, but it should not create new dependencies.
India’s Own Story
Goyal mentioned that India has now joined the world’s top five economies. Over the past three years, the country has grown at an average rate of over 7%. This means India’s economy is doubling every eight years.
In the last ten years, millions of people have come out of poverty. They are now becoming part of the middle class. Their incomes are rising and demand is increasing,” the Minister said.
India’s Environmental Leadership
Goyal stated that half of India’s electricity generation capacity now comes from renewable energy. Currently, the country has 250 GW of clean energy and aims to reach 500 GW by 2030.
The Minister made an important point India hosts 17% of the world’s population, but the country’s contribution to global emissions is only 3.5%. This means we are doing much better than our responsibility requires.
“We are taking steps against climate change. But developed countries have not fulfilled their Paris Agreement commitments. Neither cheap finance was provided, nor technology transfer happened,” Goyal said.
Appeal to ‘Global South’ to Unite
The Minister urged developing countries to “speak with one voice.” Many things happening in the global trading system are eroding trust concentration of supply chains in one place, restrictive policies, and obstacles in the services sector.
Goyal said South-South cooperation is needed. Developing countries should work together in areas like critical minerals, fertilizers, and supply chain management.
Offer to Bridge Technology Gap
India offered to make its Digital Public Infrastructure available to other developing nations. Goyal mentioned that India has one billion internet users. The country ranks second in the world in ChatGPT usage.
“Our average age is 28.5 years. Democracy and rule of law are propelling our growth forward,” the Minister said.
Women Entrepreneurs’ Contribution
Goyal spoke about inclusive development in India. He mentioned that 14% of entrepreneurs in the country are women. MSMEs are providing employment to millions.
The services sector contributes 55% to GDP. This sector’s exports have been growing in double digits for the past decade.
Path to Self-Reliance
In a separate session, the Minister talked about the ‘Atmanirbhar Bharat’ initiative. He mentioned that India achieved self-reliance in medicines and vaccines during COVID.
About $130 billion is being invested annually in infrastructure in the country. Airport capacity has been increased from 74 to 158. Rail, road, and waterways are being expanded.
Meeting with UNCTAD Chief
Goyal also met with UNCTAD Secretary-General Rebecca Grynspan. The meeting discussed UNCTAD’s role in equitable economic transformation, non-fulfillment of Paris Agreement commitments, and South-South cooperation.
Message of ‘Vasudhaiva Kutumbakam’
At the end of his speech, Goyal mentioned India’s ancient principle of ‘Vasudhaiva Kutumbakam’ (the world is one family) and ‘Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas’.
He said trade is a tool for development. Together we can build a better future for all.
The Minister said India is a trusted partner for both developing and developed worlds. The country is known for its independent policies, growth, and commitment to progress.
What is UNCTAD?
The United Nations Conference on Trade and Development (UNCTAD) was established in 1964. This organization helps integrate developing countries into the global economy through trade, investment, and sustainable development policies.
This session is focused on the theme “Shaping the Future: Driving Economic Transformation for Equitable, Inclusive, and Sustainable Development.”
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