India, Germany Share Commitment to Promote Green Growth

India and Germany agree on a mutual goal to be committed to promoting green growth and clean technology. 

External Affairs Minister S. Jaishankar said he held a “constructive meeting” with German Minister for Economic Cooperation and Development Svenja Schulze. 

On Friday, he arrived in Germany to participate in the Munich Security Conference 2022.  

“A constructive meeting with German Minister for Economic Cooperation and Development @SvenjaSchulze68,” Mr. Jaishankar tweeted late on Saturday.  

“Discussed our respective development partnership outlook. We share a commitment to promoting green growth and cleantech,” he said.  

In addition, Jaishankar also held talks with Foreign and Security Policy Advisor to German Chancellor Jens Ploetner.  

“A good meeting with Foreign and Security Policy Advisor to German Chancellor Jens Ploetner. A useful review of global developments,” he said in a tweet.  

Mr. Jaishankar also met his counterpart from Ireland, Simon Coveney.  

“Concluded the day meeting with FM @simoncoveney of Ireland. We have worked closely together at UNSC. Ireland can play a greater role in our EU engagement,” he said.  

It is worth mentioning that India ranked third in renewable energy country attractive index in 2021.  

The country has already placed an ambitious target to achieve a capacity of 175 GW worth of renewable energy by the end of 2022, which will expand to 500 GW by 2030. This is considered the world’s largest expansion plan in renewable energy.  

India’s installed renewable energy capacity has increased 286 percent in the last 7.5 years and stands at more than 151.4 Giga Watts (including large Hydro), which is about 39 percent of the country’s total capacity (as of 31st December 2021).   

The installed solar energy capacity has increased by 17 times in the last seven years and stands at 49.5 GW. The installed Renewable energy capacity (including large hydro) rose from 76.37 GW in March 2014 to 151.4 GW in December 2021, marking an increase of around 98 percent.  

India attained its NDC target with a non-fossil-based installed energy capacity of 158.17 GW, 40.2 percent of the total installed electricity capacity.  

Therefore, under the automatic route for renewable energy generation and distribution projects subject to provisions of The Electricity Act, 2003, up to 100 percent FDI is allowed.