Current AffairsIndia

Decouple trade policy and climate goals, Goyal tells developed world

New Delhi: Commerce and Industry Minister Piyush Goyal on Monday asked developed countries not to use environment goals as a protectionist barrier to trade and let multilateral trade look for more inclusive growth all over the world.

Addressing the UN Trade Forum 2021 online, the Minister stressed the need to decouple trade policy and green goals.

“We do hope the developed world will not use the interplay of trade and climate challenge.

Trade should allow all countries to prosper and not create barriers,” Goyal said.

It is important that there should be differentiated responsibilities when it comes to the developing world and the developed countries, he said, and that they have to fulfil the commitments they made in Paris, particularly relating to capital and technology.

“We cannot prioritise only the agenda of the developed world but also address the issues that have been long-pending such as asymmetries in agricultural subsidies,” Goyal said.

Climate justice should be protected and developed countries should reconsider their pattern of consumption and focus on sustainable lifestyles.

For India, the Minister said, a clean environment and inclusive development which is sustainable is a priority.

India, which played a very important role in Paris in getting a global consensus on restricting the temperatures from rising, would “love to do better” than what have been committed there.

Goyal said India is one of the few countries which is very carefully monitoring the progress it is making. It submits bi-annual reports to UN Framework Convention on Climate and voiced confidence that it will exceed the Nationally Determined Contributions it has made.

He referred to some of the Indian government’s policies regarding food procurement, healthcare and green energy and said, expressed the hope that credit rating agencies like IMF, which dictate the financial architecture of the world do not land up being unfairly harsh on the developing and less developed countries.

“This is the time to be more compassionate, liberal and supportive,” he said.

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