[{"bbox": [96, 153, 1134, 366], "category": "Text", "text": "and of building close and trustworthy working relations with India's various energy related ministries. Moreover, the ongoing dialogue and projects confirm that more than a pure policy based cooperation, India is looking for hands-on solutions for a greener development including technology, know-how and green investments. **EU businesses** can help to provide these solutions in areas such as clean energy, energy efficiency, smart energy networks, low carbon production and other best practices and technologies. Given India's energy consumption and GHG emissions, the EU has a clear own interest to cooperate closely with the country to help decarbonise the economy. Also, with the EU's REPowerEU plan⁵, and India's declaration to be energy independent in 2047, it is important to **increase cooperation on energy security**, both blocks being large importers of fossil fuels."}, {"bbox": [96, 377, 1134, 511], "category": "Text", "text": "Under India's G20 Presidency, there is greater emphasis on leveraging innovative financial instruments to scale up capital for achieving Sustainable Development for India meeting its 2070 net-zero targets. In India, the tracked **green finance** is only 25 per cent of required funding to fulfil its NDCs under the Paris agreement. The EU support in sustainable finance will foster close collaboration with the **EU's Sustainable Finance Advisory Hub** to be launched soon as a global technical assistance facility to engage and support partner countries."}, {"bbox": [96, 522, 1134, 682], "category": "Text", "text": "India is highly vulnerable to the impacts of **climate change**, particularly India's mostly rain fed agriculture and food production, which disproportionately impacts women, and children. India's agriculture is strategic for global food security and heavily dependent on fertiliser imports. Consistent with the recently agreed Goals and Targets under the **Global Biodiversity Framework (GBF)**, the Indian Government therefore encourages farmers to (inter alia) restore tree-cover on farms, improve water efficiency, diversify and adopt chemical free agriculture -the so-called National Mission on Natural Farming."}, {"bbox": [96, 694, 1134, 828], "category": "Text", "text": "This Action will be implemented in synergy with the Action ‘WeEmpower India’, aiming at strengthening economic and social rights for women in India, including in Global Gateway priority sectors such as clean energy, sustainable finance as well as in economic sectors and value chains in certain Indian states. The proposed Action provides a meaningful platform to engage with the Government of India in a **Team Europe** approach to deliver on the EU’s **Global Gateway** priorities and further enhance the EU’s strategic engagement with India."}, {"bbox": [96, 839, 1134, 920], "category": "Text", "text": "The Action will contribute to the priorities of the EU's Gender Action Plan III (GAP III)⁶, in particular under thematic area “Addressing the challenges and harnessing the opportunities offered by the green transition and the digital transformation, digitalisation, climate change and environment”."}, {"bbox": [85, 960, 323, 991], "category": "Section-header", "text": "## 2 RATIONALE"}, {"bbox": [85, 1026, 234, 1053], "category": "Section-header", "text": "### 2.1 Context"}, {"bbox": [96, 1072, 1134, 1417], "category": "Text", "text": "India is the world's **fourth largest economy** in purchasing power parity, and the fastest growing economy among G20⁷ members. Geopolitically, India is in competition with China, trying to diversify its supply chains and strategic relations through a multipolar world, strengthening ties with the West, while maintaining strategic links with developing and emerging economies (including but not limited to Russia). Russian oil has helped the Indian government tackle inflation, their greatest political worry given its impact on citizens and nearing elections, with challenges remaining in reducing poverty, inequalities and promoting social justice. India remains the world's **biggest democracy** and, through its G20 chairmanship in 2023, is positioning itself as the **voice of the “Global South”** while advocating for a rules based multi-polar international order. India provides development assistance beyond its neighbours, including trilaterally (such as with Germany and France) in South Asia and in Africa. The creations of the International Solar Alliance and the Coalition for Disaster Resilient Infrastructure demonstrate its desire to be an international player on sustainability issues. As G20 Presidency, India also managed to position demand side measures and consumption patterns (coined “lifestyles for sustainable development”, or LiFE, domestically) as a new cornerstone of Sustainable Development Goals (SDGs)."}, {"bbox": [85, 1500, 1143, 1550], "category": "Footnote", "text": "⁵ https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal/repowereu-affordable-secure-and-sustainable-energy-europe_en"}, {"bbox": [85, 1572, 882, 1599], "category": "Footnote", "text": "⁶ https://international-partnerships.ec.europa.eu/system/files/2021-01/join-2020-17-final_en.pdf"}, {"bbox": [85, 1621, 677, 1646], "category": "Footnote", "text": "⁷ 6.1% expected GDP growth for 2023 (IMF projections January 2023)"}, {"bbox": [1038, 1682, 1143, 1706], "category": "Page-footer", "text": "Page 5 of 34"}]