Mumbai: In a momentous event at COP-28, Prime Minister Narendra Modi addressed the Leadership Group for Industry Transition, unveiling the new phase of collaboration – Lead-IT 2.0.
Initiated in 2019, Lead-IT has been a joint effort to accelerate industry transition, focusing on sectors such as Iron and Steel, Cement, Aluminum, and Transport. In its first phase, Lead-IT concentrated on developing transition roadmaps and sharing knowledge, with 18 countries and 20 companies becoming members.
During his address, Prime Minister Modi highlighted India’s global cooperation in circularity strategies under the G-20 presidency. Building upon this commitment, he announced the launch of Lead-IT 2.0, emphasizing three key focuses: inclusive and just industry transition, co-development and transfer of low carbon technologies, and financial assistance for industry transition in emerging economies.
Furthermore, to facilitate these objectives, the India-Sweden Industry Transition Platform was introduced, fostering collaboration among governments, industries, technology providers, researchers, and think-tanks from both countries.
Expressing confidence in creating a new green growth story for future generations, Prime Minister Modi thanked His Excellency Ulf Kristersson, the Prime Minister of Sweden, and all participants for their involvement in this significant event at COP-28.
The launch of Lead-IT 2.0 marks a crucial step towards fostering global cooperation for sustainable and inclusive industrial transitions.