Page 21 - Policy Economic Report - November 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

CDRI's initiatives, such as the Infrastructure for Resilient Island States (IRIS), the Global Infrastructure
Resilience Initiative (GIRI), and targeted efforts for critical infrastructure resilience, are actively
assisting countries with technical support, data, and tools for resilience building.

• LeadIT (Leadership Group for Industry Transition) Member Meet, 14.11.2024 (India Delegation
Office)

Organizers: Govt. of India (MoEFCC), Govt. of Sweden, with support from Leadership Group for Industry
Transition (LeadIT) Secretariat

The purpose of the meeting was to interact with the members to understand their experience with
LeadIT so far and how that can be made effective. State Secretary (Sweden) highlighted the importance
of this partnership for Sweden. The Swedish companies are keen to engage in India in view of the
massive growth potential in India and the conducive environment for start-ups to grow. Trade with
India is growing at 15% every year and the cooperation between countries is expected to bring
prosperity to both the countries.

India highlighted that it gives equal value to this partnership. This platform can play a significant role
in overcoming these challenges. The members including Dalmia, SSAB, Vattenfall, Tata Motors, SAIL,
Tata Steel highlighted technological challenges they face and recommended the areas of cooperation.

• India-Sweden Industry Transition Partnership (ITP) – Road to Belém, 16.11.2024 (Swedish Pavillion)

Organizers: Govt. of India (MoEFCC), Govt. of Sweden, with support from LeadIT Secretariat

At CoP28, Prime Minister of India, Shri Narendra Modi and Prime Minister of Sweden, Ulf Kristersson
had launched the India-Sweden Industry Transition Partnership (ITP) as part of the LeadIT initiative.
The Prime Ministers committed to return to CoP30 in Belém to deliver tangible results under this
partnership. With one year to go, this side-event provided an opportunity to take stock of progress
made under the India-Sweden ITP and highlight the links to its sister partnership, the Brazil-UK Industry
Decarbonisation and Hydrogen Hubs.
The panel discussions showcased progress under India-Sweden ITP and ongoing political commitment,
highlighted links between the India-Sweden ITP and the Brazil-UK Hubs and served as a springboard
towards a CoP30 moment with leaders and stakeholders.

• Energy Transitions for the Global South: Unleashing the role of solar for the global south, 19.11.2024
(ISA Pavilion)

Organizers: Govt. of India (MoEFCC) and International Solar Alliance (ISA)

The session began with a critical examination of solar energy's role in addressing the intertwined
challenges of energy security and climate change, with a special emphasis on its significance for the
Global South. Participants stressed the urgency of hastening the energy transition to bridge
developmental disparities while promoting a balance of economic growth, social justice, and

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