The Global South should not be held accountable for the environmental damage caused globally, as this harm has primarily resulted from the developed countries that benefited from inexpensive energy. This was the statement made by Union Minister of Commerce and Industry, Piyush Goyal, during his address at the inaugural session of the Confederation of Indian Industry (CII) Partnership Summit 2024, held in New Delhi. Trade ministers from countries including Italy, Israel, Bhutan, Bahrain, Algeria, Nepal, Senegal, South Africa, Myanmar, Qatar, and Cambodia were present as partner nations at the Summit.
Goyal emphasized that while the partner countries share collective responsibility for environmental sustainability, they are not to blame for the damage already caused. He highlighted that addressing sustainability within shared supply chains requires a “common but differentiated responsibility,” where every nation is given responsibility proportionate to its contribution to the environmental issue.
In his address, Goyal extended India’s hand of friendship and partnership to the nations of the Global South. He noted that during the summit, key themes like stability, space, satellite technology, and sustainability were often discussed, underlining their importance in today’s global context.
Goyal also pointed out that Artificial Intelligence (AI) and automation will significantly affect employment and the skills needed for the future. While technology is poised to transform livelihoods, he stressed that preserving tradition and culture is equally crucial. The future, he said, will require a balance between tradition and technological advancement.
He also underscored the importance of empowering both individuals and systems for sustainable growth. India, with its large, aspirational youth population, needs to focus on providing education and skills to meet future challenges. This will contribute to the ease of doing business and improve quality of life, he added.
Addressing the economic future of the partner countries, Goyal stressed the importance of liquidity for financial stability, which is essential for future growth. He noted that while financial systems evolve, there needs to be a focus on sustainable consumption and a circular economy. He emphasized that excessive consumption does not contribute to a better world and that attention must be given to reducing waste and minimizing carbon footprints. Environmental challenges, he pointed out, are not only caused by carbon emissions from manufacturing but also by the carbon footprint generated through consumption.
Goyal also emphasized that inclusivity is central to global development. He advocated for the role of innovation, industry, infrastructure, investment, and initiative in accelerating inclusivity among nations. He also stressed the importance of boosting global trade and tourism among partner countries to foster growth and inclusivity. Additionally, he highlighted energy as the most significant driver of economic progress, asserting that the future of the world will be shaped by energy.
Reflecting on the summit, the Minister noted that cooperation between partner countries can convey a message of unity to the world. He reaffirmed India’s long-standing commitment to peace and diplomacy, as emphasized by Prime Minister Narendra Modi, and called for collaboration among nations to address the geopolitical challenges the world faces today. He concluded by stressing the importance of aligning the interests of the partner countries to promote shared peace and prosperity.
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