Consumption waste damaging planet, world needs to reflect on lifestyles: Shri Goyal

Partner countries must act to augment global trade, tourism: Shri Goyal

Synergy among partner countries to send a message of oneness to the world: Shri Goyal

Global South is not responsible for global environmental damage but has been caused by the developed countries who enjoyed the benefit of low cost energy. This was stated by Union Minister of Commerce & Industry, Shri Piyush Goyal during his address at the inaugural session of Confederation of Indian Industry (CII) Partnership Summit 2024 in New Delhi today. Trade Ministers from the Italian Republic, State of Israel, Bhutan, Bahrain, Algeria, Nepal, Senegal, South Africa, Myanmar, Qatar and Secretary of State for Ministry of Commerce of Kingdom of Cambodia were the partner countries at the Summit.  

Shri Goyal highlighted that each of the partner countries have shared responsibilities towards environment and sustainability, but countries present at the summit are not responsible for the damage to the environment. Therefore, the responsibilities towards shared supply chains and sustainability will have to be met through common but differentiated responsibility, he said. While all have to work together, everybody needs to be given responsibility based on their contribution to the environmental problem, he added.

Addressing the participants, Shri Goyal said that India offers a trusted hand of friendship and partnership to countries of Global South. Sharing the common themes mentioned at the session, he pointed out that stability, space, satellite and sustainability were most spoken of by the officials in attendance and emphasised that the world today needs these discussions.

Shri Goyal said that Artificial Intelligence (AI) and automation will have an impact on the future of employment and the skills required to adapt to the changing job profiles. He said that technology will transform lives and change the nature of livelihoods, but tradition and culture will also need to be maintained equally. Therefore, it needs to be a mix of tradition and legacy on one hand and technology on the other, he noted.

He emphasised that empowerment of both people and processes is key to growth. Pointing out that India is marching forward with a large pool of youth with high aspirations, he stressed that there is a need to empower them with education and skill to grapple with the challenges of tomorrow. This will lead to Ease of Doing Business and Ease of Living, he said.

Speaking about strengthening the economies of the partner countries, the Minister underlined the need for liquidity to ensure financial stability to fund the future. Elaborating further, the Minister noted that liquidity coupled with lifestyles needs deeper reflection. Consumption waste is not going to make the world a better place to live in and the world will have to reflect on lifestyles and a circular economy, he said adding that while pursuing the goal of a good lifestyle we have to be conscious of the waste and of the carbon footprint that we leave. The Minister added that there is a need to curb consumption pattern and that environmental challenge is not a function of the carbon emitted through manufacturing. He said that the issue needs to be looked into as a function of the carbon footprint caused by consumption.

During his address, Shri Goyal spoke of inclusivity being at the core of all development activities across the world. Shri Goyal stressed that innovation, industry, infrastructure, investment and initiative will help the countries become more inclusive faster. The Minister also spoke on the need to augment global trade and tourism among the partner countries to foster growth and inclusivity. He also emphasised on energy, the driver and single-most contributor of economic growth in the world. Energy will determine the future, he said. 

Reflecting on the summit, the Minister noted that synergy among the partner countries can send a message of oneness to the world. He continued that India has always stood for peace and dialogue and diplomacy as suggested by the Prime Minister Shri Narendra Modi will have to be encouraged for the geopolitical challenges the world is facing today. Further, he stressed on the need for the partner countries to align each other’s interests for the common peace and prosperity.