India recognises the need for environmentally sustainable development

Washington: The International Monetary Fund looks at India as a country that recognizes the need for an environmentally sustainable development strategy as the global community gears up for a decisive fight against climate change.

"If you look at India in the last generation, it has been undergoing development. India has been undergoing a transformation. India has become a major player in the world economy.

India is a great power and we look at India as a country that recognizes the need for an environmentally sustainable development strategy," Vitor Gaspar, Director of the IMF's Fiscal Affairs Department said.

Noting that India is particularly concerned about prospects for the poorest segments of its population in the context of this process of development, he explained how does climate change fit into the framework.

"I would say that there are two perspectives that one can look at. One, given its status as a major economy in the world, India has a critical role to play at the global level.

In this context it's important to recognize that India is especially vulnerable to climate change. So, India does have a strong interest in advocating for a global action," Gasper said.

From this viewpoint, India is fully committed to the Paris agreement.

It has made its nationally determined contribution pledges, and that implies reducing emissions of CO2 by a third below 2005 levels that is relative to the energy intensity of GDP and India seems to be on track to deliver on its pledges, he added.

Referring to the latest report on fiscal monitor, he said, IMF make the point that the nationally determined contributions that were made by countries for the Paris agreement will not deliver safe levels of temperature increases.