New Delhi/UNI: India has huge growth potential in the battery storage segment, on the back of which the country can become a two and three-wheelers exporting hub, ex-CEO at Niti Aayog Amitabh Kant said on Friday at the ninth Public Affairs Forum of India (PAFI) meet.
Sharing his foresight on India as a renewable and green energy exporter, Kant said India has no competition in this field.
The former policymaker said if the companies continued to take climate action, it would attract more capital and speed up Indias growth.
For India, climate action is not a challenge but an opportunity, he added.
Its for two reasons First, we are blessed in terms of climate and our entrepreneurial ecosystem. And the second is that India will become the first country to be industrialized without carbonizing, only with green hydrogen, he further said.
While talking about Indias agenda at G20, he mentioned Indias G20 presidency came at a time when there were multiple challenges in the world, including the Russia-Ukraine war, the China-Taiwan crisis, global supply chain disruptions, trade slowdown, high global debt, and inflationary pressures.
Kant said India would bring growth at the central stage.
He pointed out that a study by PricewaterhouseCoopers (PWC) suggests that India will be the second largest country in terms of the size of its economy.
India needs to work on three areas create a digital model replicable for other developing countries to follow; achieve SDG by digitization and call for action against climate change as per the Panchamrit, announced by PM Narendra Modi in Glasgow, Kant said.
Stressing the need for digitalization, he highlighted that last year Indias real-time transactions moved up to a staggering 48.6 billion, almost three times that of China and close to seven times more than combined payments volume of the worlds leading economies, including the US, UK, Canada, France, and Germany.
