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POLICY AND ECONOMIC REPORT
              OIL & GAS MARKET

          The BRICS Energy Ministers reaffirmed their commitment to strengthening energy security and
          advancing UN Sustainable Development Goal 7 (SDG 7), focusing on universal electricity access, clean
          cooking, and tackling energy poverty. They emphasized the need for just, inclusive, and balanced energy
          transitions in response to climate change.

          While acknowledging the continued role of fossil fuels—particularly in developing countries—they
          stressed the importance of reducing greenhouse gas emissions in alignment with SDG 7 and global
          climate targets guided by technological neutrality and the principle of common but differentiated
          responsibilities and respective capabilities (CBDR-RC).

          The Ministers called for stronger partnerships, supported open, fair, and non-discriminatory
          international energy markets, and encouraged the use of local currencies in energy trade.

          They recognized the fundamental role of the BRICS Energy Research Cooperation Platform and
          welcomed the updated BRICS Roadmap for Energy Cooperation (2025–2030) as key to deeper
          collaboration.

          Affirming each country's right to determine its own energy transition path and pace, the Ministers
          advocated efficient use of all energy sources and called for increased concessional and low-cost
          financing from developed to developing nations. They highlighted the role of the New Development
          Bank (NDB) in promoting sustainable energy infrastructure, especially through local currency financing.

          The Ministers advocated for adoption of fair, transparent, and consistent guidelines for assessing carbon
          intensity, energy classification, and mutual recognition of taxonomies and certifications.

          Underscoring energy security as vital for socio-economic development, they highlighted the importance
          of market stability, resilient infrastructure, diversified energy sources, and critical minerals for clean
          technologies.

          They reaffirmed the goal to double energy efficiency by 2030 and emphasized enhanced cooperation
          and knowledge sharing among BRICS nations. Lastly, they committed to elevating BRICS' global energy
          role and advancing shared priorities under India’s Chairship in 2026.

          Ministry of New & Renewable Energy participated in World Hydrogen Summit 2025, highlights India’s
          vision and capabilities in Renewable Energy and Green Hydrogen

          Secretary, Ministry of New & Renewable Energy, Government of India, Shri Santosh Kumar Sarangi
          addressed the World Hydrogen Summit 2025 in Rotterdam, highlighting India's strategic vision and
          capabilities in the domain of renewable energy and green hydrogen production.

          The Secretary underscored India’s transformative potential of Green Hydrogen to become a global
          leader in this space. This ambition largely relies on India’s strength in the renewable energy domain.

          The Secretary highlighted that India has already installed over 223 GW of renewable energy—that
          includes 108 GW from solar and 51 GW from wind—placing India among the fastest-growing renewable

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