India@Davos: Leaders Highlight Economic Growth, Sustainability Roadmap

As the world leaders discuss dismal global economic growth and rising climate risks, Indian leaders attending the World Economic Forum Annual Meeting are highlighting the country's robust growth rate and sustainability features.

- Press Trust Of India

At a panel discussion organised by the Cll, Union Minister Pralhad Joshi said India will soon become the world's third-largest economy and underlined the need for greater investment in sustainability and grid stability.

Despite substantial renewable energy investment over the past decade, significantly more is required to reach the 500 GW target by 2030.

Joshi said India has already begun modernising its grid through digitalisation, smart metering, and decentralised renewable energy, which has strengthened system resilience and empowered citizens.

As India moves from the fourth-largest to the third-largest economy soon, the key need now is to ensure grid stability, he said.

While India is progressing with grid-forming technologies, support through technology sharing from developed countries, along with blended finance and capital investment, remains pivotal.