India has significant investment opportunities totalling over $500 billion by 2030 in clean energy
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India has significant investment opportunities totalling over $500 billion by 2030, especially in the clean energy value chain including renewable energy, green hydrogen, electric vehicles and infrastructure transformation, said Minister Sunil Bhartwal. He was speaking at the first Indo-Pacific Economic Framework (IPEF) Clean Economy Investor Forum in Singapore.
Fair and Clean Economy
During the IPEF forum, 13 IPEF member countries signed the Agreement on Fair and Clean Economy, while India will sign the agreement after getting national approval.
India has not signed these agreements as the national approval process is still ongoing, but it will be completed after the formation of the new government, the Commerce Ministry said in a statement. The agreements were negotiated in November last year and signed at a ministerial meeting in Singapore in the presence of trade ministers and senior officials of the 14 member countries. The Indian delegation was led by Bhalswal.
The IPEF bloc was launched in Tokyo on May 23, 2022, in collaboration with the United States and other partners in the Indo-Pacific region. Together, they account for 40% of global economic output and 28% of trade.
Four-Pillar Framework
The framework is built around four pillars: trade, supply chains, clean economy, and fair economy. India has joined all pillars except trade. The bloc comprises Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States and Vietnam.
The Indian delegation highlighted the key reforms introduced over the last decade to improve the ease of doing business in India.
In the sustainable infrastructure category, four Indian companies were shortlisted after a selection process to pitch their concepts to investors from around the world.
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