By Arul Louis New York, April 23 : The India-US climate partnership launched by Prime Minister Narendra Modi and President Joe Biden aims to show the world how to combine rapid action against climate change with economic development, according to a joint statement by the two countries. Modi announced the launch of the US-India Climate and Clean Energy Agenda 2030 Partnership on Thursday at the Leaders Summit on Climate convened virtually by Biden with participation of leaders from 40 countries. He said that through the partnership, "together we will help mobilise investments, demonstrate clean technology and enable green collaboration." The joint statement said, "Through this collaboration, the US and India aim to demonstrate how the world can align swift climate action with inclusive and resilient economic development, taking into account national circumstances and sustainable development priorities." It added, "The Partnership will represent one of the core venues for US-India collaboration and focus on driving urgent progress in this critical decade for climate action." Setting out their agenda, the statement said, "The Partnership will aim to mobilise finance and speed clean energy deployment; demonstrate and scale innovative clean technologies needed to decarbonise sectors including industry, transportation, power, and buildings; and build capacity to measure, manage, and adapt to the risks of climate-related impacts." For this, "the Partnership will proceed along two main tracks: the Strategic Clean Energy Partnership, and the Climate Action and Finance Mobilization Dialogue, which will build on and subsume a range of existing processes," it said. State Department Spokesperson Ned Price said that the Strategic Clean Energy Partnership will be co-chaired by US Energy Secretary Granholm, and the Climate Action and Finance Mobilisation Dialogue by Kerry. He did not name their Indian counterparts. He said that announcement of the partnership followed the visit of US Special Presidential Envoy for Climate John Kerry to India earlier this month when he and Modi announced that their countries would collaborate on clean technologies and climate action. Briefing reporters in Washington, Kerry emphasised the importance of India reaching its clean energy goals by 2030. "India, in partnership with the US, (is) to deploy 450 gigawatts of renewable power. Why is that important? Because if we can do that -- which is where our finance component of this is so critical -- if we do that, India is on track to hold the 1.5 degrees centigrade (increase in global temperature)." Scientists consider that limiting global warming to 1.5 degrees centigrade is essential to prevent devastating effects. The joint statement noted that "both the US and India have set ambitious 2030 targets for climate action and clean energy". Biden has set an economy-wide target of reducing net US gas emissions by 50 to 52 per cent below 2005 levels by 2030 and India has a goal of installing 450 gigawatts of renewable energy by 2030, the statement said. (Arul Louis can be reached at arul.l@ians.in and followed @arulouis) /IANS