India firmly believes that equity and climate justice must be the basis of climate action and this can be ensured only when the developed countries take the lead in combating climate change, Environment Minister Bhupendra Yadav said here at the COP28 on Saturday.Delivering the country's national statement here at the high-level segment at the annual climate conference, Yadav also highlighted India's contribution, noting that New Delhi reduced its GDP emission intensity by 33% between 2005 and 2019, achieving the target 11 years in advance.Yadav also said that India looks forward to the Global Stocktake outcome for providing meaningful and relevant inputs for deciding enhanced climate action.GST is a two-year review of collective global efforts to achieve the Paris agreement goals, especially the target of limiting global warming to 1.5 degrees Celsius.Calling the ongoing climate negotiations as a ‘COP28 of action', the Minister said it was evident on the first day with the operationalisation of the Loss and Damage Fund.