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IOD Special Talk - Driving Transformation: Advancing India's Vision for Atmanirbharta and Sustainability
Distinguished Dignitaries, Esteemed delegates, Industry leaders, ladies & gentlemen.
It is my pleasure to address this eminent gathering at the 26th International Conference on Environment Management and Climate Change. This platform serves as a vital conference of industrial progress and environmental preservation, fostering a balance that is critical for our nation's sustainable future. Hosting this conference in Bangalore, India's Silicon Valley, it's particularly symbolic in amplifying how technology and sustainability can go hand in hand. India is among the fastest growing economies in the world. While our carbon dioxide emissions, from fossil fuels and industrial processes, have increased over the recent 8 years, it is also important to recognize that India's historical share of cumulative global greenhouse gas emissions stands at just 4%, despite accounting for nearly 17% of the global population between 2015-2019. This translates to a per capita emission of only 1.89 tons, less than half the global average of 4 tons. In contrast, larger economies like the United States, Australia and Canada, have per capita emissions exceeding 14 tons. Despite our comparatively low per capita emissions, the Government of India, under the visionary leadership of our Hon'ble Prime Minister, Shri. Narendra Modi Ji, has made bold commitments at the Conference of Parties (COP). This includes achieving 500 gigabytes of non-fossil fuel capacity by 2030 and reaching net-zero emissions by 2070.
As the Union Minister of Heavy Industries and Steel, I am deeply cognizant of the pivotal roles, both sectors play in nation-building. From infrastructure to manufacturing, these industries form the backbone of our economic growth. Yet, with this responsibility comes the urgent need to redefine progress. Notably, the Steel and Road Transport Sectors, each contribute approximately 12%, and a combined 24% of India's energy related carbon dioxide emissions. Under the guidance of our Hon'ble Prime Minister Narendra Modi Ji, India is making significant progress. We are targeting a steel production capacity of 300 million tons by 2030, while remaining aligned with our net-zero commitments for 2070. In Automobile sector, India currently manufactures over 5 million passenger and commercial vehicles annually, ranking 3rd globally. Furthermore, India has emerged as the largest market for two-wheelers worldwide. In alignment with national priorities, the Ministry of Heavy Industries and Steel is actively advancing local manufacturers of vehicles, and promoting cleaner fuels, generating employment, and supporting the development of 'critical capital goals' for the automobile and manufacturing sectors. Through coordinated efforts across these domains, we are committed to driving India's transition to sustainable transportation and fostering inclusive industrial growth. The Ministry is focused on its mission to help the industry achieve excellence through 'Atmanirbhar.' To this end, we are implementing production-related incentives, schemes for both the Automobile and Advanced Chemistry Cell (ACC) Sectors.
I urge you to integrate sustainability into every aspect of your operations, invest in Research and Development (R&D) for cleaner production methods and collaborate closely with the government to scale up green solutions that are both impactful and inclusive.
Additionally, another Prime Minister's E-DRIVE Scheme provides incentives to buyers of electric vehicles, encouraging wider adoption of clean mobility solutions. In continuation of these efforts, just two days ago, I had the honour of launching the portal for applications under the scheme for promoting the manufacturing of electric passenger cars in India. This initiative aims to invite global car manufacturers to set up electric vehicle production facilities in India, marking a major strike towards import substitution and technological advancement.
To all the industry leaders present here today, I urge you to integrate sustainability into every aspect of your operations, invest in Research and Development (R&D) for cleaner production methods and collaborate closely with the government to scale up green solutions that are both impactful and inclusive.
The Golden Peacock Awards, by the Institute of Directors, have played a pivotal role in raising the bar for corporate accountability. I extend my heartiest congratulations to this year's winners. The government of India is fully committed to supporting this green transition through policy incentives, financing mechanisms and infrastructure development. However, meaningful and lasting change will only be realized when every stakeholder from large corporations to MSMEs, integrates sustainability as a shared mission and moral imperative.
I wish you all a productive and impactful conference!
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Institute of Directors India
Bringing a Silent Revolution through the Boardroom
Institute of Directors (IOD) is an apex national association of Corporate Directors under the India's 'Societies Registration Act XXI of 1860'. Currently it is associated with over 31,000 senior executives from Govt, PSU and Private organizations of India and abroad.
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Disclaimer: The opinions expressed in the articles/ stories are the personal opinions of the author. IOD/ Editor is not responsible for the accuracy, completeness, suitability, or validity of any information in those articles. The information, facts or opinions expressed in the articles/ speeches do not reflect the views of IOD/ Editor and IOD/ Editor does not assume any responsibility or liability for the same.
