India presents $500 billion clean energy investment prospects at IPEF forum
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At the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in Singapore, Sunil Barthwal, India’s Commerce Secretary, highlighted India’s vast investment opportunities within the clean energy value chain
These prospects amount to over $500 billion, with renewables, green hydrogen, and electric vehicles (EVs) leading the charge.
The Indian delegation’s address highlighted the critical reforms implemented in the last decade to facilitate business in India.
Furthermore, four Indian companies, including ReNew Power and Avaada Energy Pvt. Ltd were shortlisted to present their sustainable infrastructure concepts to global investors.
Also read: Gautam Adani meets Japanese envoy Hiroshi Suzuki to discuss a potential energy project
Launched by the US and other Indo-Pacific nations in May 2022, the IPEF prioritises sustainability across four pillars.
Trade, supply chains, a clean economy, and a fair economy are the four pillars of the IPEF framework.
Australia, Brunei Darussalam, Fiji, Indonesia, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam were among the participating countries.
Also read: Clean energy investments for emerging nations among top agenda of COP29
As part of the conference, 13 IPEF members signed fair and clean economy agreements.
The clean economy agreement within the IPEF framework aims to drive innovation and collaboration in reducing reliance on fossil fuels and promoting clean energy technologies.
India refrained from immediate signing due to pending domestic approval. In addition, India has joined all the pillars in the IPEF framework, except trade.
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