The India Sweden Industry Transition Partnership (ITP)
Industry Transition Partnership.
The launch of the ITP
The India Sweden Industry Transition Partnership was launched by prime ministers Narendra Modi and Ulf Kristersson at COP28 in Dubai as one of the three pillars of work under the second phase of the Leadership Group for Industry Transition.
"We have decided to collaborate to strengthen relevant institutions and policy frameworks to co-develop technology, to collaborate on research and innovation, and to mobilize investments in the transition”
Ulf Kristersson
Prime Minsiter of Sweden
ITP objectives
The ITP’s mission is to accelerate the transition of heavy industry in India and globally. The Partnership aims to unlock flagship projects in the steel and cement sectors and contribute to fostering enabling conditions towards scaling and expanding industry decarbonization efforts by:
- supporting innovation and research and development,
- mobilizing finance
- advancing market-based mechanisms.
Over the course of its work, the ITP will align with its sister initiative, the Brazil – UK Industry Decarbonization Hub, so as to leverage mutual learning and jointly elevate the country platform model as a powerful, innovative way to accelerate industry decarbonization in emerging markets.
Clear and tangible results from the ITP will be delivered by COP30 in 2025.
Inaugural meeting of the ITP, April 2023, New Delhi
A new chapter is beginning with the launch of LeadIT 2.0. I believe, together we will be successful in writing a new green growth story for the future generation.
Narendra Modi
Prime Minister of India