Davos: Union Minister Piyush Goyal on Tuesday said India has contributed the least to global warming but is still being very responsible on fossil fuels, while the western world is not doing enough even after accounting for more than half of the carbon emissions.
Speaking here at the World Economic Forum (WEF) annual meeting, Goyal also said India is committed to safeguarding the interest of its people while welcoming investors from across the world by making regulations easier for them.
“When it comes to governance and easing regulations, India was at a disadvantageous position for many years but a conscious decision was made soon after our government came to remove all those legacy issues and to make the growth story equitable for all,” the minister for railways as well as commerce and industry said.
“We want to provide right opportunities for our people and at the same time safeguard the interests of the investors as well.
“We are always trying to make India more investor friendly and we are talking to our friends across the world on how to improve our infrastructure. We are showcasing infrastructure projects in various countries to get the best from them,” he said.
But at the same time, Goyal said, India will ensure that any cross border investment, including for outbound investments, in infrastructure does not result in any kind of domination.
The minister said, “In fact, India has contributed the least to the global warming. The western world, which has given more than 50 per cent of carbon emissions up there, is not doing much actually. We in India are doing so much, including through our programme on LED bulbs.” On how India is balancing its coal and renewable energy sources, Goyal said, “Every country in their development phase has exploited coal, but we are much more responsible and are using coal as a base load power for our renewable energy. That’s actually important for our renewable push.”