From textiles to solar energy, Indian firms continue their impact on emerging markets.
The US withdrawal from the Paris Climate Accord will not have much impact on the fight against global warming as India and others take the lead in embracing renewable energy.
Just as US President Donald Trump’s repudiation of the Trans Pacific Partnership provided Chinese President Xi Jinping the opportunity to present himself as the prime defender of the globalised trading order, the US walkout of the Paris Climate Pact has presented Indian Prime Minister Narendra Modi the rare chance of presenting India as the leader of the global fight against climate change.
US President Donald Trump’s decision to pull out of the Paris Accord may be a chance for India to shine, writes an energy expert.
Trump’s pullout from the Paris Accord on climate change has brought India to the fore. Two claims are especially puzzling. One, the treaty lets India (and China) not do much till 2030, and that India is looking for developed countries to pay them $2.5 trillion for its Nationally Determined Contributions (NDCs). India’s NDC calculations were taken with their own calculations, and have very little to do with the US (or any other country).
India’s state-owned energy major, NTPC, recently celebrated its Green Masala Bond listing at London Stock Exchange (LSE), raising $300 million double the initial target set. ‘India Global Business’ caught up with Kulamani Biswal, finance director of the company, in London to explore what lies behind this first-ever Indian quasi-sovereign’s masala bond issuance, the proceeds from which will be invested in the renewable energy market in India.
India’s minister for power, coal, new and renewable energy, Piyush Goyal, has often been referred to as among the most energetic ministers in the Narendra Modi Cabinet. As someone who thrives on meeting India’s energy targets before time, he is now keen to move the debate towards how India can play a leadership role within the context of Modi’s International Solar Alliance (ISA).
‘India Global Business’ caught up with the minister during a recent visit to London, where he spoke about redefining the Africa story and affordable energy access for every citizen of India and the world.