PM Modi says India keen to be part of 'clean tech supply chain' at meet organised by Biden

Prime Minister Narendra Modi on Sunday underscored three vital aspects for improving global supply chains during the session on Global Supply Chain Resilience on the sidelines of the G20 Summit. PM Modi asserted that trusted sources, transparency and time-frame are three vital fields that regulate the global supply chain. Speaking of India's step forward in the field, PM Modi on Sunday stated that while India is already a trusted source in IT and Pharma supply chains, it is keen to participate in the clean technology supply chain, External Affairs Ministry spokesperson Arindam Bagchi said in a series of tweets.

PM Modi attended the Global Supply Chain Resilience meet convened by US President Joe Biden. The leaders discussed ways in which "governments can alleviate pressure points in the global supply chain ecosystem," Bagchi mentioned in his tweet. Notably, the Supply Chain Resilience initiative was launched during a Tri-ministerial meeting in April, including leaders of India, Japan and Australia. The initiative was undertaken after the three nations observed the harrowing impact of the COVID-19 pandemic in regards to the loss of lives and livelihoods, stressing the impact on economies and vulnerable global supply chain systems, the Ministry of Commerce and Industry had said in a statement, as per ANI.

G20 leaders make a commitment to climate neutrality

The G20 leaders also made a compromised commitment to reach carbon neutrality by or around 2050. The meeting took place on the sidelines of the Global Supply Chain Resilience summit on Sunday. The commitment was a part of laying the groundwork for the COP26 Glasgow Summit, for which the national leaders have embarked on.

As per the final communique, the leaders have agreed to cease public financing for coal-fired power generation abroad but set no limitations for limiting domestic coal usage. "We must accelerate that phasing-out of coal and invest more in renewable energy. We also need to make sure that we use available resources wisely, which means that we should become able to adapt our technologies and also our lifestyles to this new world," Italian PM Mario Draghi told at the meet on Sunday, as per AP. The leaders also affirmed the earlier commitments and looked forward to mobilising climate funds worth $100bn per year to poorer nations.

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