Page 41 - FIPI - Policy Economic Report - May 2025
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POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
The Union Minister highlighted energy security as one of the most pressing current challenges and
emphasized the need to strengthen BRICS cooperation to ensure economic stability and sustainability,
as well as to promote equitable access to energy resources globally.
He reaffirmed India’s unwavering commitment to building a sustainable and inclusive energy future and
lauded Brazil’s leadership under the theme, 'Strengthening Global South Cooperation for More Inclusive
and Sustainable Governance.' He further emphasized the critical role of energy security, access, and
affordability in advancing global development goals.
Sh. Manohar Lal showcased India’s rapid progress in clean energy highlighting some of the key
achievements given below:
? A 90% increase in electricity capacity over the past decade, reaching 475 GW in 2025 and
targeting 900 GW by 2032.
? Becoming the world’s third-largest producer of solar and wind energy.
? Marching fast towards achieving Nationally Determined Contributions (NDCs)
? Achieving a 20% ethanol blending milestone, advancing biofuel adoption and emissions
reduction.
? Investing in smart grids, advanced metering infrastructure, and an expanded transmission
network, including the Green Energy Corridor.
? Setting ambitious goals for green hydrogen and nuclear energy, including a 100 GW nuclear
capacity target by 2047.
? Launching a domestic Carbon Credit Market, inviting global collaboration.
He also emphasized the role of the Global Biofuels Alliance in advancing cooperation in the biofuels
sector and underscored India’s commitment to energy efficiency through innovative programs such as
the Energy Conservation Sustainable Buildings Code, rooftop solar initiatives, and efficient appliance
standards.
He underscored the vital role of fossil fuels in the global energy mix—especially for developing
countries—and urged greater cooperation to promote their cleaner and efficient use through
technologies such as coal gasification, carbon capture and storage, and green chemical innovations.
In conclusion, Sh. Manohar Lal extended an invitation to the BRICS nations to participate in the next
BRICS Energy Gathering, scheduled for 2026 in India, reaffirming the country’s commitment to leading
the energy agenda for the Global South.
Some of the key outcomes from the Energy Ministerial Communiqué jointly adopted by the BRICS
Energy Ministers:
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