India to produce 50% energy from renewables by 2030: Modi at G20 meet

Prime Minister says there should be no restrictions on energy supply, seeks 'return to the path of ceasefire and diplomacy in Ukraine'

India is on track to achieve its target of generating 50 per cent of its electricity from renewable sources by 2030, Prime Minister Narendra Modi told the G20 summit in Indonesia on Tuesday as he ruled out "any restrictions" on energy supply and stability.

The leaders of the 20 largest economies are meeting in Bali for two days at what has been described to be one of the most divisive and challenging G20 summits ever.

Modi, who was speaking at the summit’s first session on food and energy security, said that while India has provided food grain to other nations, the latest global shortage should be met with a G20 agreement on secure supply chains.

"India is committed to clean energy and environment. By 2030, half of our electricity will be generated from renewable sources," he said, indicating the country’s climate change mitigation goals remain on track.

The statement burnishes India’s credentials at the ongoing 27th United Nations Climate Change conference (COP27) in Egypt as a responsible global player working to reduce emissions while balancing developmental needs.

Modi said India's energy security is important as it is the world's fastest growing economy. "We must not promote any restrictions on the supply of energy and stability in the energy market should be ensured."

Also read: G-20: Biden to press world leaders to hold tough on Russia over Ukraine war

He stressed on the need for time-bound and affordable finance being provided to developing nations, as well as a sustainable supply of technology to ensure an inclusive energy transition

"Climate change, the Covid pandemic, the developments in Ukraine, and the global problems associated with it. All these together have caused havoc in the world. Global supply chains are in ruins."

"Today's fertiliser shortage is tomorrow's food crisis, for which the world will not have a solution,” he said.

He also stressed multilateral institutions have failed to address these challenges and therefore the world has greater expectations from the G20.

"We should also not hesitate to acknowledge that multilateral institutions such as the UN have been unsuccessful on these issues. And we have all failed to make suitable reforms in them," he said. He added that will work for global consensus on all these issues during its G20 presidency.

Ukraine war

Modi reiterated his call for diplomacy and disengagement on the Ukraine issue, calling for concrete and collective resolve to ensure peace, harmony and security in the world.

"I have repeatedly said that we have to find a way to return to the path of ceasefire and diplomacy in Ukraine. Over the past century, the Second World War wreaked havoc in the world. After that, the leaders of that time made a serious effort to take the path of peace. Now it's our turn," he said.

The Prime Minister hinted that India is willing to act as a mediator. "I am confident that next year when the G20 meets in the holy land of Buddha and Gandhi, we will all agree to convey a strong message of peace to the world," he said.

A call to denounce Russia has reportedly split the G20 in opposite camps. Russian President Vladimir Putin skipped the summit, instead deputing Foreign Minister Sergey Lavrov to attend.

The G20 is a forum for international economic cooperation representing around 85 per cent of the global GDP, over 75 per cent of the global trade, and about two-thirds of the world population.