EU-India Clean Energy Push: How Industrial Transition Cuts Emissions

"We have very strong cooperation in the area of clean energy and climate transition," Przywara told ANI in an exclusive interview on the sidelines of the Industrial Transition Accelerator (ITA) event in New Delhi.

The event marked an opening of the new implementation phase of the project for India, Przywara said.

"It's basically a project which facilitates the Indian industry especially those sectors which are hard to abate to adopt new technology, get financing, and get into this path of decarbonisation. And we as the European Union, of course, we are supporting this path."

He said the EU's support aligns with India's broader sustainability agenda.

"We are doing something quite similar here in India, having a lot of projects and activities together with the Indian government and business associations, which aim basically at the same purpose," he said, calling the collaboration "very successful."

A key focus of the EU-India partnership, Przywara said, is proving that economic growth and emissions reduction can go hand in hand.

"There is a clear decoupling it is possible technologically and economically to grow while at the same time cutting emissions," he said. Citing the EU's record, he added,

"In the European Union, we have been growing by 68% over this period from 1990 to 2023, and at the same time we managed to cut our emissions by 38%. So India can do it as well."

Przywara highlighted the EU-India Clean Energy and Climate Partnership, which has been active since 2016.

"It has been existing for the last nine years. We have done literally hundreds of events and activities, talking to the Indian government, exchanging best practices, and helping in establishing legislation in the area of green transition," he said.

He also pointed to other initiatives such as the EU-India Climate Dialogue, where both sides discuss pathways to decarbonisation and carbon market development.

"The European Union has the oldest and biggest carbon market in the world--we have 20 years of experience running it, and now we are very happy to share those experiences with India," Przywara said.

On industrial decarbonisation, he mentioned EU support for the Leadership Group for Industry Transition (LID-IT), an initiative co-founded by India and Sweden.

"It already involves 18 different countries and multiple industrial entities all around the world," he said, describing it as a key multilateral effort to cut industrial emissions.

Przywara said that both sides are expected to further strengthen ties following recent high-level engagements.

"At the beginning of this year, the College of Commissioners visited India and held very positive discussions with the Indian government. Recently, the European Commission and High Representative for Foreign Policy issued a joint communication about the new EU-India agenda for the future," he said.

He added that both partners are optimistic about a potential summit soon to "confirm and elevate" cooperation.

"We really have a lot to do together in the area of clean energy, climate, decarbonisation, and green transition," Przywara said.

During the same event, Sumit Gupta, Managing Director and Senior Partner, Boston Consulting Group (BCG) told ANI today that India is well-positioned to lead the global green transition due to its low cost of renewable energy, strong industrial base, and growing innovation ecosystem.

"We've outlined the key challenges that these projects face and what needs to come together to actually make the transition happen whether it's innovative financing, access to capital, technology innovations aligned with market needs, or effective project execution," Gupta said during an exclusive interview with ANI on the sidelines of the Industrial Transition Accelerator (ITA) event.

"The question is how to get the right ecosystem of partners to execute these projects from paper to plant."

He highlighted that India's low cost of renewable energy offers a major advantage. "We have one of the lowest costs of energy in the world, which is a key enabler of the green transition," he noted.

- ANI