India strengthens ties with GCC nations, invites them to invest in sustainable energy

India strengthens ties with GCC nations, invites them to invest in sustainable energy

India invited the Gulf Cooperation Council (GCC) member countries to invest in the sustainable energy sectors in the country, one of the Indian government’s major focus areas, at an event at Expo 2020 Dubaion Tuesday.

Indian Prime Minister Narendra Modi announced that India would have 500 gigawatts of renewable energy by 2030, Joint Secretary of the Gulf region at India’s Ministry of External Affairs, Vipul, said in a statement released on Wednesday, adding that it was a good opportunity for the GCC to capitalize on it.

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“We need to evolve our areas of cooperation, and the platforms required for this purpose like business technology corridors will be important. The theme of Expo 2020 itself helps us take our relations forward and look into sectors that come under – Sustainability, Mobility and Opportunity,” he said.

“Essentially, sustainability technology like renewable and hydrogen energy, electric vehicles, and health technology are the potential areas of cooperation and partnership.”

He added that by 2025, India expects to attract foreign investments of up to $120-160 billion annually, and that Gulf countries are best placed to capitalize on such opportunities given their ties with India.

“There will