Talk on ‘India-UK Initiatives in Climate Change’ organised by MCCI

We target to make the UK the largest Investor in India from the current third position’  – said The Right Hon’ble Baroness Sandip Verma, Minister of the Department of Energy and Climate, Government of the United Kingdom at the MCCI Talk on ‘India –UK Initiatives in Climate Change’ held today at the MCCI Chamber. Shri Amar Singh, Member of Parliament, Rajya Sabha was the other speaker.

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Baroness Verma also suggested that the proposed Green Investment Bank in the UK would be a financial instrument to be availed not only by the citizens of the UK, but also globally. She added ‘Renewable sector is one of the most important sectors where the UK would like to work cohesively with India exploiting the Skills and Opportunities that India offers in making the Planet a safer and cleaner place to live’.

Arunachal Pradesh has the capacity to produce 15% of the Hydropower in India which the new Regime under Shri Modi should encourage and utilise’ was the prime suggestion to the forum by Shri Amar Singh.He also stated that FDI is the only remedy in building a congenial investment climate in the long term. Lamenting the recent PIL in Supreme Court against arbitration on Vodafone in tax dispute case, he said such incidents discourage FDIs out of the country. He advocated and supported the recent hike in Petroleum and Railway fairs saying ‘ In order to build  a Globally competitive,vibrant  India, all the sectors should not be spoon fed and subsidised’

Earlier Shri Arun Saraf, Sr Vice President, MCCI recommended ‘development of business led joint demonstration projects in critical sectors’ ,’introducing innovative financial instruments and removing  barriers to capital flows to stimulate investments in low carbon economy’ and ‘Improving exchange and dissemination of information to support low carbon business decisions’– as actionable suggestions to enhance and deepen India-UK Collaboration on climate change.