Economy News

India and US combine forces to support sustainable development

U.S and India have joined forces to support sustainable development, meet 21st century power needs and protect national security.

This energy cooperation also aims to promote regional and international stability.

It will increase access to renewable energy for a wider population through effective technology transfers, financing and an equity-based approach.

As a result, this will create global low-carbon pathways, green jobs and achieve shared climate goals.

Moreover, the collaboration of the two nations comprise of natural gas, renewable energy, nuclear energy and clean coal technologies,.

It further includes smart grids, unconventional and clean energy sources respectively.

India’s Ambassador to the US refers to the energy sector as one of the “five baskets” of the India-US collaboration.

These five baskets consist of cooperation in healthcare and Pharma and COVID-19 management along with affordable medicines and vaccines.

This also includes the digital space as well as information and communication technology, innovation and start-ups and the energy sector.

The education and knowledge partnership besides cooperation in strategic and defence areas are equally significant.

India’s solar energy production will reach 450GW by 2030 declining greenhouse gas emissions to 30-35 per cent.

However, both the nations have already teamed up in renewable energy under the Strategic Energy Partnership.

Currently, Indian drug companies are planning to make local makers of so-called active pharmaceutical ingredients in house.

The objective here is to end the country’s reliance on China post a deadly border clash last June.

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