Economic Survey 2023: India Is Spearheading Climate Actions To Meet 2070 Net Zero Goal & other -13

China Seeks To Limit Technology Access For Solar Manufacturing, In Move Aimed At India

China,?which?built?its?imposing,?world-dominating?solar?manufacturing?sector?with?a?combination?of?technology?purchases?from?the?west,?academic?partnerships,?and?joint?research,?seems?to?have?lost?the?appetite?to?allow?others?to?do?the?same.

The?country,?which?leads?in?global?solar?markets?with?its?manufacturing?firms?enjoying?an?almost?80%?market?share,?hasn't?taken?kindly?to?others?trying?to?reduce?their?dependence?on?Chinese?imports.

Three?of?the?largest?consuming?and?importing?markets?for?solar?equipment,?the?US,?India,?and?to?a?lesser?extent,?Europe,?have?attempted,?with?varying?degrees?of?success,?to?reduce?dependence?on?imports?by?pushing?for?a?manufacturing?base?locally.

Now?China,?with?the?highest?investment?in?R&D?and?some?of?the?most?cutting-edge?technology?for?manufacturing,?could?pull?up?the?drawbridge?on?any?easy?tech?transfers.

India?risks?becoming?collateral?damage,?or?at?least?paying?a?high?price?for?this?protectionism,?as?its?domestic?manufacturers?seek?more?expensive?and?possibly?relatively?inefficient?technology?elsewhere.

Interestingly,?after?the?US?and?India?imposed?tariffs?on?Chinese?module?imports?to?support?domestic?industry,?polysilicon?prices?had?shot?up,?an?area?where?there?was?no?hope?of?capacities?ramping?up?outside?China?for?some?time.

Even?leading?Chinese?firms?have?exported?enough?plant?and?machinery,?along with?research?facilities,?to?other?countries?where?they?set?up?manufacturing?bases?to?skirt?import?bans?on?their?home?country,?creating?a?strong?cohort?of?foreigners?who?are?familiar with?and?working?on?the?same?technologies.

Economic Survey 2023: India Is Spearheading Climate Actions To Meet 2070 Net Zero Goal

India, which committed to achieving net zero emissions by 2070 only in late 2021, has already begun work and made significant progress.

Critical?to?our?economy?and?growth,?India?is?spearheading?one?of?the?most?robust?climate?actions?through?Nationally?Determined?Contributions,?which?includes?an?ambitious?program?for?transitions?to?clean?energy?in?the?world.

Despite the negative effects of COVID-19 on the economy, India has increased its climate ambition and embarked on a long-term strategy toward low GHG emission-based development, according to the Economic Survey 2023, which was tabled in Parliament today.

To?combat?climate?change?and?save the?environment,?India?is?focusing?on?solar,?water,?energy?efficiency,?and?capacity?building,?among?other things.

India?has?achieved?its?target?of?40?percent?installed?electric?capacity?from?non-fossil?fuels?ahead?of?2030.

As?per?the?survey,?India?is?on?the?path?to?becoming?a?preferred?destination?for?renewables,?and?investments?in?the?segment?for?the?past 7?years?stand?at?$78.1?billion.

The?Economic?Survey?also?states?that?India?will?reduce the?emissions?intensity?of?its?GDP?by?45?percent?by?2030?from?2005?levels.