Indian Adviser Opposes Western ESG Norms Imposition

India’s economic adviser, SanjeevSanyal, who is also a member of Modi’s economic advisory council,  has called for the country to resist Western rating companies’ efforts to impose ESG (environmental, social, and governance) norms on emerging markets. While India is committed to achieving net zero greenhouse gas emissions by 2070, Sanyal argues that the issue is not the need for norms, but who will monitor them. He suggests that India should seek a review of the methodologies used by international think tanks and credit rating agencies. Sanyal also warns against allowing a small group of Western agencies to decide on ESG norms, calling it a form of neo-colonialism. India plans to transition to renewable energy, including nuclear power and solar, to reach its net zero goal.