India’s prime minister Narendra Modi has used his Independence Day speech to announce that the nation will spend INR 100-trillion on a national infrastructure plan to boost economic growth and help the country meet its climate goals.
While he did not go into great detail, he said the scheme, called ‘Gati Shakti’, will expand the use of cleaner fuels.
India is moving fast towards achieving its climate goals,’ he said. Mr Modi pledged to invest more in electric mobility, solar energy and ‘green hydrogen’ – which does not emit CO2 – in order for the country to become energy independent by 2047.
Given that the COP26 meeting on climate change is barely weeks away, the PM dwelt extensively on issues of climate change, mentioning the issue as one of “environment security”. He noted the Indian railway system would meet the net-zero target by 2030, the country had already surpassed the developed world in meeting per capita emission levels, and the emphasis on renewable forms of power would further reduce emission. “Green energy will lead to green jobs,” he said.
Before the 100th anniversary of independence, we will make India energy independent,’ he said. He aims to wind down energy imports, which costs the country more than INR 12-trillion each year. India imports about 85% of its oil needs.”
Modi explained that “Gati Shakti, a big programme…will create job opportunities for hundreds of thousands.”