theparliamentnews.com

Global Leaders Call for Measurable Sustainability Action Across Sectors

Mumbai, India – 3 March 2026 : The World Environment Council (WEC) successfully launched its 18 Global Environmental Development Goals (GEDGs) during a landmark International Online Conference by more than 250 registered participants from across the globe. The conference brought together leaders from corporates, universities, governments, research institutions, and civil society to advance structured and measurable sustainability implementation.

The conference was hosted by Mr. Puneet Trehan, who introduced WEC’s international presence and its India headquarters. He outlined the Council’s ongoing education and project initiatives, including ESG certification programs, CDP and GHG inventory training, sustainability capacity-building workshops, and upcoming global collaboration programs.

Official Launch of the 18 GEDGs : The 18 Global Environmental Development Goals were formally launched by Prof. Ganesh Channa, Founder and President of the World Environment Council. In his keynote address, Prof. Channa emphasized the need to move sustainability from discussion to implementation.

“The 18 Global Environmental Development Goals are designed to transform sustainability from commitment into measurable action. We must create frameworks that enable corporates, universities, and governments to collaborate with accountability and transparency,” said Prof. Ganesh Channa, Founder & President, World Environment Council.

He further highlighted the importance of cross-sector partnerships and encouraged global stakeholders to align strategy, governance, and environmental initiatives with measurable impact indicators under the GEDGs framework.

Global Perspectives and Expert Contributions : The conference featured expert insights from Prof. Hemlata, who shared perspectives on the United Nations Sustainable Development Goals (SDGs) and the importance of integrating global sustainability priorities into localized action plans.

“Global sustainability frameworks require localized ownership. Institutions must bridge policy commitments with grassroots implementation and measurable reporting,” said Prof. Hemlata during the session.

The event also included contributions from distinguished participants including Shalini Verma, Urmimala Chaoudary, Aron Charter, Shweta Singh, Awa Cham, Allan Victor, Pogar Spajani, Mumtaz Nohri, and Ramesh Chavan. Participants shared insights on ESG integration, community-driven climate action, research collaboration, governance models, and sustainable innovation.

Focus on Collaboration and Implementation : The conference introduced the GEDGs as a comprehensive sustainability framework addressing environmental protection, climate action, responsible governance, ESG alignment, and community resilience.

Mr. Puneet Trehan emphasized the role of international cooperation: “WEC’s platform is designed to connect global professionals and institutions to accelerate sustainability implementation. The GEDGs framework provides a structured pathway for collaboration and measurable progress.”

The event concluded with an open invitation to corporates, universities, policymakers, and industry leaders to join the GEDGs Global Network and participate in structured working groups for implementation.

About the World Environment Council (WEC) : The World Environment Council is an international sustainability organization committed to advancing environmental protection, ESG integration, climate action, and responsible governance through education, research, training, and collaborative global initiatives.

For media inquiries, partnerships, or collaboration opportunities:

Contact : Email: co*****@*****rg.in

The reported killing of Ali Khamenei in an attack by United States and Israeli forces has drawn sharp responses from governments and international bodies, raising concerns about escalation and regional instability.

Iran stated it launched retaliatory strikes on Israel and US-linked assets in Qatar, the United Arab Emirates, Kuwait, Bahrain, Jordan, Saudi Arabia, Iraq and Oman. The Islamic Revolutionary Guard Corps (IRGC) pledged further action, claiming it targeted 27 bases in the Middle East where US troops are stationed.

Several countries in the region temporarily closed their airspace amid the exchange of attacks. A Gulf source indicated that foreign ministers of the Gulf Cooperation Council (GCC)  comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE  would hold an emergency meeting via video conference.

Diplomats from the European Union’s 27 member states also convened urgent discussions after the United Nations Security Council met late on Saturday.

Below is a summary of key reactions.

Iran

President Masoud Pezeshkian described the killing as an “open declaration of war against Muslims”, particularly Shia communities. In a condolence message, he termed the event a major trial for the Islamic world and signalled continued resistance.

Israel

Israeli Defence Minister Israel Katz congratulated Prime Minister Benjamin Netanyahu and the armed forces for the operation. In a public statement, Katz said Israel would continue to act “with full force”.

United States

US President Donald Trump confirmed the operation and warned Iran against further retaliation. In remarks posted on his social media platform, he cautioned that any additional strikes by Iran would prompt a strong response from Washington.

Russia

Russian President Vladimir Putin condemned the killing, calling it a violation of international law. In a message published by the Kremlin, he extended condolences to Iran and described Khamenei as an important figure in Russia–Iran relations.

China

China’s Ministry of Foreign Affairs said Beijing “strongly condemns” the killing, calling it a violation of Iran’s sovereignty and of the principles of the UN Charter. China urged an immediate halt to military operations.

European Union

EU foreign policy chief Kaja Kallas described the development as a defining moment in Iran’s history and said the bloc was consulting regional partners to explore de-escalation measures.

United Kingdom

UK Defence Secretary John Healey said the immediate priority was protecting British military personnel and civilians from potential retaliatory attacks.

Hamas

Hamas condemned the strike, describing it as a serious violation of Iran’s sovereignty and attributing responsibility to the US and Israel. The group called for action from Arab and Muslim states.

Yemen’s Houthis

The Houthi political leadership expressed condolences to Iran, characterising the strike as a breach of international norms and part of broader regional aggression.

North Korea

North Korea’s Foreign Ministry labelled the US–Israeli operation an “illegal act of aggression”, accusing Washington and its ally of violating sovereignty.

Pakistan

Prime Minister Shehbaz Sharif expressed condolences and said Pakistan stood with the people of Iran during what he termed a period of grief.

Chad

Chadian President Mahamat Idriss Deby Itno conveyed sympathy to Iran and extended condolences over the killing.

India’s economic growth is expected to reach 7.6% in the financial year 2025–26, according to the second advance estimates of gross domestic product (GDP) released by the government on February 27, 2026. The revised figure is higher than the 7.4% projected in the first advance estimates issued in January, which were based on the older 2011–12 base year series.

The updated data series, presented by Statistics Secretary Saurabh Garg and Chief Economic Advisor V. Anantha Nageswaran, incorporates a revised base year of 2022–23 and includes new datasets to improve coverage, representativeness, and granularity.

Revisions to Recent Growth Data

Under the new series:

• Growth for 2023–24 has been revised downward to 7.2% from 9.2% under the old series.

• Growth for 2024–25 has been revised upward to 7.1% from the earlier estimate of 6.5%.

• Growth for 2025–26 is projected at 7.6% under the second advance estimates.

The government also released third-quarter data for 2025–26 under the new series, showing growth at 7.8%, compared to 8.4% in the second quarter and 6.7% in the first quarter.

However, nominal GDP  which measures the size of the economy at current prices  has been revised downward for the three-year period from 2023–24 to 2025–26. This has implications for fiscal metrics that are calculated as a percentage of GDP.

Sectoral Growth Trends in FY26

According to the second advance estimates, growth patterns across sectors are mixed.

Secondary Sector:

The secondary sector is projected to grow at 9.5% in 2025–26, up from 7.3% in 2024–25. This expansion is largely driven by manufacturing, which is estimated to grow 12.5% compared to 8.3% in the previous year. Construction growth is expected to moderate slightly to 6.9% from 7.1%.

Primary Sector:

The primary sector is expected to slow significantly, with growth projected at 2.8% in 2025–26, down from 5% in 2024–25. Agricultural growth is estimated to ease to 2.5% from 4.3%, while mining and quarrying growth is projected to decline to 5% from 11.2%.

Tertiary Sector:

The services sector is projected to accelerate to 8.9% growth in FY26, compared to 8.3% in the previous year. This improvement is supported by double-digit growth in trade, hotels, transport and communication (10.3%), as well as financial, real estate, IT and professional services (10%).

Impact on Fiscal Indicators

The revised data indicates that India’s nominal GDP is expected to be ₹345.47 lakh crore in 2025–26, around 3.3% lower than the figure estimated under the earlier series. Nominal GDP for 2023–24 and 2024–25 has also been revised downward by approximately 3.8% each.

Economists note that while the absolute fiscal deficit remains unchanged, a lower GDP base mechanically raises fiscal ratios.

D.K. Srivastava, Chief Policy Advisor at EY India, stated that since the fiscal deficit is calculated as a share of GDP, a smaller GDP base pushes the ratio higher. He indicated that the 2025–26 revised estimate (RE) fiscal deficit ratio would increase from 4.36% to 4.51% of GDP due to the updated series.

Similarly, Aditi Nayar observed that the fiscal deficit-to-GDP ratio for the previous year would likely be 15–20 basis points higher on average compared to earlier estimates.

The revised data also affects the government’s debt consolidation roadmap. The debt-to-GDP ratio is now projected at 57.5% for FY27, compared to the earlier budgeted estimate of 55.6%, an increase of 1.9 percentage points.

The government has set a medium-term target of reducing central government debt to 50% of GDP (plus or minus one percentage point) by 2031. A lower nominal GDP base implies that achieving this target may require a steeper fiscal consolidation path than previously anticipated.

Broader Implications

While the revised GDP growth estimate for 2025–26 reflects stronger real economic performance compared to earlier projections, the downward revision to nominal GDP alters the fiscal arithmetic.

The updated base year of 2022–23 is expected to provide a more contemporary and representative measure of India’s economic structure, particularly given structural changes in manufacturing, digital services, and formalisation in recent years.

However, the recalibration of fiscal ratios underscores how statistical revisions can influence perceptions of fiscal sustainability, even when underlying deficit numbers remain unchanged.

The government’s fiscal strategy in the coming years will need to balance growth support with adherence to its debt reduction commitments under the revised data framework.