'INDIA POISED TO BOLSTER AND DIVERSIFY SUPPLY CHAINS'

Sitharaman's comments emphasize India's commitment to clean energy and its role in global sustainability

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Finance Minister Nirmala Sitharaman, during the World Bank-IMF Annual Meetings in Marrakech, Morocco, emphasized India's position in contributing to the diversification and strengthening of global supply chains, particularly in the clean energy sector. She highlighted India's commitment to sustainable practices and climate mitigation, including the ambitious transition to clean energy, as outlined in its Nationally Determined Contributions (NDCs).

Sitharaman underscored the synergy between India's domestic policy and the RISE (Resilient and Inclusive Supply-chain Enhancement) partnership, which focuses on building resilient and inclusive supply chains for clean energy products.

She also referenced the consensus achieved during the G20 India Presidency regarding the urgent need to rapidly increase global renewable energy capacity. India's efforts, such as Prime Minister Narendra Modi's launch of the Global Biofuels Alliance initiative, were recognized as positive steps in promoting global cooperation in sustainable biofuels and clean energy innovation.