Union Petroleum and Natural Gas Minister Hardeep Singh Puri has said that under the leadership of Prime Minister Narendra Modi, India has been making immense strides in ensuring energy security for its citizens at affordable prices.
Speaking at the 9th Asian Ministerial Energy Round Table at the sidelines of India Energy Week 2023, the Minister said, affordable energy is a vital ingredient to achieve inclusive growth and energy justice.
The Minister added that emerging economies are facing the daunting task of safeguarding energy security because of affordability in the current scenario.
Talking about the Net-Zero targets, the minister said that to achieve it the world would require global coordination and access to skill, technology, and global financing. He added that there is also a need to work on a variety of energy solutions be it renewable energy, nuclear or advanced Bio Fuel.
Mr. Puri said that India has now reached 10 percent biofuel ethanol blending and the target of 20 percent blending which was set for 2030 has been brought forward to 2025. Calling the Union recent union Budget as a Green Budget, Mr Puri said that the government has allocated the 35,000 crore for priority capital investments towards net zero transition and energy security.
Raising concerns about climate change, the Minister said, low carbon emissions pathways for development are the key to mitigating climate change.
The Minister said that India, as the largest country in Asia is not only committed to the climate goals, but taking many steps to mitigate those challenges. He said the initiatives launched by Prime Minister Modi in the India Energy Week are steps towards these directions.
The Minister said that climate change is the defining challenge of our time and the stake is high particularly for the Asian region with temperatures rising twice faster than the global average.
The Minister said the Asian economies have not only managed to bounce back faster from the impacts of the pandemic, but they’ve also made significant progress towards clean energy.
Mr Puri said that the present century is marked by the remarkable growth story of Asia due to its demographic, dividend, and innovation.He however added that the some of the world’s best solutions to the world’s toughest problems including in the energy sector, have come out of Asia.
The Minister said that the 21st century belongs to Asia and this has been vindicated in the post-pandemic energy sector. He said asian economies have not only managed to bounce back faster from the impacts of the pandemic but I’ve also made significant progress towards clean energy.
Speaking at the event, Sultan al-Jaber President designated COP28 of UAE said that Under Prime Minister Modi’s guidance, India has emerged from the pandemic stronger than ever before.
He added that It is in fact the fastest-growing major economy and will soon be the largest in the world. He said that global investment in clean energy exceeded $1 trillion for the first time and the trajectory is only going up.
Mr. Sultan al-Jaber added that most of this new growth will be driven by the dynamic economies of Asia and India. He added that India is aiming for 500 gigawatts of clean energy by 2030 and that is an ambitious target.
He said that UAE believes in the abilities and capabilities of India and UAE will extend all possible support to achieve the clean energy transition targets.
Union Minister for Petroleum and Natural Gas and Housing and Urban Affairs, Hardeep Singh Puri addressing a press conference in ..
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