New Delhi: Commerce and Industry Minister Piyush Goyal on Monday called for promoting sustainable consumption patterns to cut carbon footprint and resolve issues of environment.
He said that people of the world would have to focus on consuming products which are environmentally sustainable.
"We need to be conscious of the waste and carbon footprint due to our current lifestyle patterns. This is going to be a core of a better future for the world. Unless we address the consumption patterns, we are not going to resolve sustainability and environmental challenges," Goyal said. The minister was addressing CII's Partnership Summit.
He added that environmental challenges are not a function of the carbon emitted through manufacturing, but "it is a greater function of the carbon caused by (our) consumption because manufacturing comes only because there is a consumption demand".
He suggested managing that demand in a better and more sustainable way.
Speaking at the event, M K Nir Barkat, Minister of Economy and Industry, Israel, said the trade and economic relationship between the two countries is growing.
A corridor, spanning from India through the UAE, Israel, and extending to Europe, would help in further strengthening economic ties, he added.
Goyal also said that the Global South is not responsible for global environmental damage but it has been caused by the developed countries who enjoyed the benefit of low-cost energy.
Senior ministers from Italy, Israel, Bhutan, Bahrain, Algeria, Nepal, Senegal, South Africa, Myanmar, Qatar and Cambodia also participated in the summit.
Each of the partner countries have shared responsibilities towards environment and sustainability, but countries present at the summit are not responsible for the damage to the environment, Goyal said adding Artificial Intelligence (AI) and automation will have an impact on the future of employment.
"Consumption waste is not going to make the world a better place to live in and the world will have to reflect on lifestyles and a circular economy," he added.
The minister also unveiled a compendium of central and state government initiatives driving India's economic growth, prepared by HSBC and KPMG in India.
The report serves as a blueprint for navigating India's incentives, policies and reforms landscape.
Hitendra Dave, CEO, HSBC India said: "The incentives and policies outlined represent India's unwavering commitment to creating an investor-friendly environment".
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