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Modi pitches India’s emerging clean energy market at G7, urges member nations to invest

G7 Summit held in Germany amid Russia-Ukraine war. India invited as partner country, along with Indonesia, Argentina, Senegal and South Africa.

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New Delhi: Prime Minister Narendra Modi Monday exhorted the Group of Seven (G7) countries to consider promoting and investing in India’s emerging market for clean energy technologies as he attended the G7 Summit in Germany amid the Russia-Ukraine war.

The G7 is an informal grouping of industrialised economies, made up of the US, the UK, Canada, France, Germany, Italy and Japan.

PM Modi was invited to attend this year’s G7 Summit by German Chancellor Olaf Scholz as a partner country. Apart from India, Indonesia, Argentina, Senegal and South Africa also attended the summit as partner countries.

“Today, a huge market for clean energy technologies is emerging in India. The G7 countries can invest in research, innovation and manufacturing in this field. The scale that India can provide for every new technology can make it affordable for the whole world,” Modi said at a session on ‘Investing in a better Future: Climate, Energy, Health’ at the G7 Summit.

“The core theories of circular economy have been an integral part of Indian culture and lifestyle.”

He added, “When a large country like India shows such ambition, other developing countries also get inspiration. We hope that the rich countries of G7 will support India’s efforts…”

Modi reiterated the commitment made by India at the United Nations climate change COP26 Summit in Glasgow in November 2021: That the country will cut its emissions to net zero — not adding to greenhouse gases — by 2070.

Referring to the Russia-Ukraine war, which has pushed up energy prices across the globe, Modi said, “All of you will agree that energy access should not be the privilege of only the rich. A poor family also has the same rights on energy. And today, when energy costs are sky-high due to geopolitical tensions, it is more important to remember this.”

Also read: G-7 sees Modi’s ban on wheat exports as an obstacle to combating rising food prices

‘Continue pressure on Putin’

Modi met all the G7 leaders on the sidelines of the summit, where the main focus was on obtaining energy since countries around the world have been reeling under a fuel crisis caused by the Russia-Ukraine war.

Even as the G7 leaders met in the German countryside, Russian forces reportedly attacked a crowded shopping mall in east Ukraine, resulting in a large number of civilian casualties.

Ukraine President Volodymyr Zelenskyy joined the G7 Summit virtually.

In a tweet, German Chancellor Scholz said “as @G7 we stand united on Ukraine’s side and will continue our support”.

Scholz tweeted that “we are united by our belief in democracy, and we are united by our belief in the rule of law”. “We work together on a security architecture for the world that ensures peace — I am sure we will succeed,” he added.

During the PM’s bilateral meeting with Scholz, both sides discussed ways to enhance energy cooperation between the two as Europe seeks ways to wean itself  off Russian gas. India has come under severe criticism from Europe for its decision to continue buying Russian oil despite the western sanctions on it, but has hit back.

Tweeting about the meeting, Modi thanked Scholz “for the warm hospitality during the @G7 Summit”.

“We discussed cooperation in key sectors like commerce and energy. We also had deliberations on furthering environmentally friendly growth for our planet,” he added.

This was the second meeting between the two leaders this year. The previous meeting took place during the PM’s visit to Berlin on 2 May for the India-Germany Inter-Governmental Consultations.

(Edited by Zinnia Ray Chaudhuri)

Also read: What G7’s $600-bn infra alliance focussing on healthcare, climate security means for India


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