Union Budget 2023-24
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Promenade 49: India Sustainability Lounge

India has retained its status as the fastest growing major economy despite global headwinds such as post-COVID economic recovery coupled with geopolitical vagaries that have impacted energy prices. As per projections, in a few months, India will soon be the most populous nation, the bulk of which is going to be young. A rising population with great aspirations and a rising economy is built on rising energy demand. As a climate conscious nation 50 % of this demand will be from green sources by 2030.

Being an emerging economy, the oil, gas, and coal demand is expected to increase in the coming years to meet the voracious fuel demands of industrial sectors and transportation. India is the world's third largest producer of renewable energy, with 40% of its installed electricity capacity coming from non-fossil fuel sources.  Apart from renewable energy, electric vehicles, battery technology and hydrogen offer the hope to de-carbonize the economy, creating a tentative path towards energy transition. To achieve the Panchamrit  target laid out by the Hon’ble Prime Minister, the roadmap is set- the Long-term Low Emissions and Development Strategies (LT-LEDS) presented by India at COP 27. 

The urgency of curtailing emissions is not lost on the political class. However, what continues to be a fraught matter is the share of responsibility that different countries are willing to accept when it comes to minimizing their CO2 emissions. 

Developed nations, which have contributed the most to the CO2 concentration in the atmosphere and have the resources and capability to curtail emissions, are unwilling to take on the greater share of this responsibility going forward. Most developing nations feel that this is unfair, given that they have contributed less (or minimally) to the problem and are still being forced to contribute equally. Moreover, fast-growing economies like and India have ever-expanding energy needs, considering the stage of development they are at. Their reliance on fossil fuels at this time will naturally be higher. The fundamental problem remains one of apportioning the responsibility or ownership of future efforts, as the available carbon space in the atmosphere needs to be vacated (by developed nations) for those who need it (many countries in the Global South), but that is not happening. 

The Annual Meeting, 2023 of the World Economic Forum (WEF) would be held in Davos, Switzerland in January 2023. Department of Promotion for Industry and Internal Trade (DPIIT), Ministry of Commerce, is the nodal body for organizing and representing India at the World Economic Forum. For the upcoming Annual Meeting in January 2023, Invest India, under the aegis of DPIIT, will showcase India’s commitment to fighting climate change, its adaption and mitigation strategies, environmentally conscious policies and innovation and best practices in this realm for the global audience.

Promenade 49: India Sustainability Lounge

Pursuant to this, Invest India will be showcasing 5 broad themes (not exhaustive) at the Promenade 49: India Sustainability Lounge, which are mentioned below:

  • Energy Sector
  • Natural Resource Management
  • Sustainable habitats and transportation
  • Food and Nutritional Security
  • Climate Resilience & Circular Economy

We hope to show India’s Sustainable story through innovative projects and cutting-edge solutions. 

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  • Fireside Chats

    2

    FIRESIDE CHATS  

    Promenade 49- India Sustainability Lounge 

    World Economic Forum, January 2023 

    S.No. Session Name Date Time
    1

    Climate Change and Innovation: Technology for Environment​

    16th Jan'23 3:00 PM-3:45 PM
    2

    The Path to Net Zero for India: The role of Public Private Partnerships​ 

    Watch this session

    17th Jan'23 2:00 PM-2:45 PM
    3

    Propagating Life for Environment: From thought to action 

    Watch this session

    17th Jan'23 5:00 PM-5:45 PM
    4

    The Blue Economy: A New Sustainable Growth Agenda for G20​ 

    Watch this session

    18th Jan'23 11:00 AM -11:45 AM
    5

    Sustainable Mobility 

    Watch this session Live

    18th Jan'23 5:00 PM – 5:45 PM
    6

    LiFE and Circular Economy

    Watch this session Live

    19th Jan'23 2:00 PM - 2:45 PM

     

  • Gallery

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