To his supporters the successful outcome of the summit showed India's big moment had arrived. Modi's image has been on G20 billboards across the capital and in the vast and swanky new conference venue. It has also provided him a platform to boost his standing at home as he seeks a third term in office in elections in the next several months. MODI BOOSTS STANDING AS INDIA'S BIG MOMENT ARRIVESįor Indian Prime Minister Narendra Modi, the leadership of the G20 has been a year-long opportunity to showcase India as an influential diplomatic and economic power, and drive investment and trade flows into the world's most populous country. The deliberations of the G20 were being closely watched ahead of the COP28 U.N climate summit in the United Arab Emirates later this year. The bill overall would cost 52 billion over five years. It also said $4 trillion a year would be needed to pay for a green energy transition but did not lay out any pathway to it. The Mission Act would avoid that pending crisis by providing 5.2 billion for the program before sunsetting it permanently in one year. The group did not provide any plan to amend existing policies and targets in order to achieve the target of ramping of renewables. The G20 leaders agreed to pursue tripling renewable energy capacity globally by 2030 and accepted the need to phase-down unabated coal power, but stopped short of setting major climate goals. But there were no details about financing or a time frame for the project that involved laying down railway lines in the Middle East and then connecting them to India by port.
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