Developed countries News

The Minister said it has been agreed that the developing countries will have a differentiated time schedule for such phase down.

India is keeping its "fingers crossed" as the uncertainty continues over the fate of the WTO ministerial meeting, with developed countries taking a hard line on issues of public stockholding and a special safeguard mechanism.

"The draft Paris agreement continues to be weak and unambitious as it does not include any meaningful targets for developed countries to reduce their emissions," said Sunita Narain, director general of CSE, in a statement.

India along with other BASIC nations today expressed "disappointment" at the "low" level of support provided by the developed countries to the developing nations in fighting climate change and asserted that it was imperative that they must make "visible" lead in cutting emissions.

India has made it clear to the West that it will be firm in its negotiations on climate change but will not be cowed down by aggressive postures taken by anyone, including the United States.

The world leaders would gather in Paris for the 21st meeting of Conference of Parties (CoP-21) on climate change from November 30 to December 11.

India is projected to record average annual growth rates of 7.9 percent over the next eight years, nearly double of China's 4.6 percent projected growth over the period.

The gap between the rich and poor in a range of countries has reached its widest in 30 years and the trend has harmed growth, the OECD said on Tuesday.