Rails to run on renewables by 2030
Commerce and Industry Minister Piyush Goyal has praised the state oil companies, under the Petroleum Ministry, to set up a startup fund that will encourage Indians to innovate and set up their own companies.
He applauded the suo moto decision of the state oil industry and pointed out that India has naturally emerged as the startup capital of the world with the highest registered startups.
Goyal addressed the 3rd edition of India Energy Forum 2019 by CERAWeek in New Delhi on 15 Oct 2019.
Goyal said he is not worried about the state of the world in this time of trade wars as these were issues waiting to be addressed.
He further added that countries of the world cannot develop when few countries are giving subsidies and nurturing an eco-system of unfair trade and competition among industries.
It is the need of the hour to have a more balanced development across the world and distributed sources of wealth creation, stressed Goyal.
There is need for free trade but there is greater need for fair trade as this will work in the interests of all countries, he underlined, assuring that India supports the new dynamics of world trade.
Multilateralism will prevail and India supports all fair and honest global efforts to do away with all unfair trade practices, added Goyal.
He further informed that India will continue to support those countries that are struggling to get manufacturing back to their own countries.
Goyal said that by 2023 Indian railways will be fully electrified and by 2030 the Indian Railways will use only renewable and clean energy. Fiinews.com
