Piyush Goyal Highlights India’s Global Sustainability Leadership at CII Summit

At the 20th Global Sustainability Summit hosted by the CII-ITC Centre of Excellence for Sustainable Development in New Delhi, Union Minister of Commerce and Industry Shri Piyush Goyal emphasized India’s role as one of the best-performing G20 nations in meeting sustainability commitments. The summit brought together business leaders, policymakers, and international delegates to deliberate on sustainable pathways for growth and development.

India’s Leadership in Global Sustainability

Shri Goyal highlighted India’s decisive role at COP21 in Paris, crediting Prime Minister Shri Narendra Modi for uniting the Global South to demand accountability from developed nations. “Without his active participation and his insistence on collective responsibility, COP21 may not have come to fruition,” he said, noting that India has continued to uphold its commitments with credibility and consistency.

He reminded participants that while developed nations had promised $100 billion annually in concessional finance to support developing nations, these commitments have remained largely unfulfilled. In contrast, India has advanced rapidly by mobilizing domestic resources, scaling renewable energy, and fostering innovation.

Achievements in Renewable Energy

Since 2014, India has expanded its renewable energy targets five-fold and created a national interconnected grid under the “One Nation, One Grid” principle. Shri Goyal pointed out that 50% of India’s energy capacity is already renewable, putting the nation well ahead of schedule in meeting its 2030 targets of 500 GW capacity.

He stressed that renewable energy in India is now available at globally unmatched rates—₹4.60 to ₹5.00 per kWh for 24-hour clean power. Transparent bidding has driven solar tariffs down from ₹7–8 to as low as ₹2.41 per unit. He argued that India has proven it is possible to simultaneously pursue coal and renewables responsibly, ensuring energy security while transitioning towards green power.

Innovation, Startups, and Everyday Efficiency

The Minister called upon startups to focus on solutions for water harvesting, climate resilience, and energy efficiency. Citing the UJALA scheme of 2015—which replaced millions of incandescent bulbs with LED lights—he explained how small steps can have transformative impacts on sustainability.

He encouraged entrepreneurs to develop smart solutions for everyday challenges, such as automated streetlight systems that respond to daylight, reducing unnecessary electricity consumption. “Elementary innovations can make transformational impacts,” he stressed.

Atmanirbhar Bharat and Economic Resilience

Shri Goyal emphasized that India’s supply chains are resilient and no longer dependent on any single country’s whims. This self-reliance has strengthened India’s position globally, making it confident to engage with the world on equal terms.

With 7.8% GDP growth in Q1 2025, India remains the fastest-growing large economy, contributing 18% of global growth. The Minister credited not just policymakers but also farmers, shopkeepers, small businesses, youth, and corporates for driving this collective growth.

He added that India is now a $15 trillion economy in purchasing power parity terms and is steadily on track to become the third-largest economy globally.

Inclusive and Sustainable Growth

Goyal reiterated that sustainability extends beyond energy—it also means efficient water management, urban planning that mitigates risks from cloudbursts, flash floods, and unplanned expansion, and adopting a circular economy. Quoting the Prime Minister, he said less than 1% of textile waste in India is recycled, yet developed nations are willing to pay premiums for recycled products.

He urged industries to adopt the “Zero Defect, Zero Effect” mantra, ensuring high-quality production with minimal environmental impact. He also emphasized that cleaning rivers and oceans could generate value from waste while boosting aquaculture and livelihoods.

Global Trade and Partnerships

Shri Goyal outlined India’s growing global trade presence, noting successful FTAs with Mauritius, Australia (first tranche), the UK, UAE, and EFTA countries, while negotiations are ongoing with the EU, Chile, Peru, New Zealand, Oman, and the US. These agreements, he said, will further integrate India into global value chains and strengthen economic resilience.

Sustainability as India’s Foundation for Growth

Concluding his address, Shri Goyal asserted that India’s future is safe, secure, resilient, and inclusive, resting firmly on sustainability and innovation. “With the effort of 1.4 billion people, young India’s aspirations, and industry’s commitment to sustainability, our future rests on resilience, quality, and inclusive growth that leaves no one behind,” he said.

The Summit reinforced India’s emergence as a global leader in sustainable growth, balancing high-speed economic development with environmental responsibility and inclusive prosperity.