Elements of Bali package should be implemented: Modi at G20 summit
Prime Minister Narendra Modi told G20 leaders on Monday that all elements of the Bali package should be implemented fully, setting the stage for December’s negotiations in Nairobi as part of the Doha Development Round.business Updated: Nov 16, 2015 23:26 IST
Prime Minister Narendra Modi told G20 leaders on Monday that all elements of the Bali package should be implemented fully, setting the stage for December’s negotiations in Nairobi as part of the Doha Development Round.
Modi said regional trade agreements should not lead to fragmentation of the global trading system and should support a more liberalised multilateral trade regime.
“We look forward to a successful outcome at the Nairobi meeting in December,” Modi said.
“Slowdown in global trade is a major concern. Prospects for increase in trade momentum remain bleak in the prevailing global economic environment. Efforts to accelerate global economic growth will help trade.”
Modi pitched for a transparent, equitable, non-discriminatory and rule-based global trading system and laid emphasis on the role of “small and medium enterprises in the global value chain” to help expand global employment.
“Balanced and sustained global economic growth also needs increase in labour mobility and skill portability,” the PM said.
Modi said energy, ecology and economy are deeply integrated. “That is why India intends to meet its vast and growing energy needs in as sustainable manner as possible.”
He mentioned that India has targeted an additional 175 GW of renewable energy by 2022 along with a cut in subsidies on fossil fuels.
Calling for international support that will enable India to achieve its goals of meeting energy needs, combating climate change and creating huge economic opportunities, Modi sought the G20 countries’ help in increasing research and development in clean and renewable energy, besides reducing the costs to make it affordable and accessible for all.
“Increase financial support and technology transfer to increase access and transition to clean energy and focus research efforts on clean coal technology and coal gasification,” he said.
The measures suggested by the PM outlined the need to develop proliferation-resistant nuclear energy technology, increase in energy efficiency and moderate energy use, apart from promoting an integrated global gas market and giving greater voice to major emerging economies.