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.
A transparent, equitable, non-discriminatory and rule-based global trading system, is essential for the global economy.
It is absolutely vital that the Doha Development Round achieves its goals. All elements of the Bali package should be implemented fully. We look forward to a successful outcome at the Nairobi Meeting in December.
Regional Trade Agreements should not lead to fragmentation of the global trading system and should support a more liberalised multilateral trade regime.
Increasing the role of small and medium enterprises in the global value chain will help expand global employment.
Balanced and sustainedglobal economic growth also needs increase in labour mobility and skill portability.
With respect to energy, there are three basic challenges: energy to power growth in developing countries; meeting the needs of the hundreds of millions without access to energy; and, increasing the use of clean and renewable energy.
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.
We have targeted additional 175 GW of renewable energy by 2022; cut back on subsidies on fossil fuel and imposed carbon cess on coal. We are working on clean coal technology. We have an ambitious expansion plan for nuclear energy. By 2030, we have targeted 40% of our energy through non-fossil fuel.
International support and cooperation will enable us to achieve our goals.
As G 20, we need to promote a number of measures:
• Increase research and development in clean and renewable energy; and, reduce cost and make it affordable and accessible for all.
• Increase financial support and technology transfer to increase access and transition to clean energy.
• Focus research efforts on clean coal technology and coal gasification.
• Develop proliferation-resistant nuclear energy technology.
• Increase energy efficiency and moderate energy use.
• Promote an integrated global gas market.
• Give greater voice to major emerging economies in the global governance structure for energy.
These will meet our energy needs, combat climate change, and create huge economic opportunities.