PM Modi calls for trade, investment in climate technology

Among several initiatives taken by India and Germany to tackle climate change, Prime Minister Narendra Modi on Monday called for creation of a market environment that will promote trade and investment in climate technology.

"Prime Minister Modi and Chancellor Merkel reaffirmed the importance of providing a transparent and predictable policy environment to foster innovation. The Prime Minister emphasised India's ongoing efforts to create a market environment that will promote trade and investment in climate technology," the Indo-German joint statement on climate change and energy technology cooperation said.

"Germany is prepared to further support India in its efforts to deploy renewable, in particular solar, energy technologies and to create attractive framework conditions [e.g. through the Indo-German Energy Forum, Indo-German Solar Partnership, IGEN]," he added.

The joint statement further said that India and Germany recognise the importance of exchanging experiences on political implementation strategies that can help countries transition to low-carbon, climate resilient energy production and consumption.

"The Chancellor and the Prime Minister agreed that state and city level entities should be supported to harness new technologies, policies, financing mechanisms, and economic incentives to reduce emissions," the statement said.

The statement said that India and Germany will work together to develop and implement solutions that strengthen climate friendly urban development, including, inter alia, through initiatives in energy transition in cities, climate friendly urban mobility, energy efficiency in the housing sector, energy efficiency in urban water supply as well as recycling and waste management in major Indian cities.