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POLICY AND ECONOMIC
                    OIL & GAS MARKET

                    The meeting reaffirmed the importance of energy and power cooperation as a key pillar of the India-
                    EU partnership. Both sides expressed their commitment to continued engagement, exchange of
                    expertise and deeper technological and institutional cooperation to support secure, resilient and
                    sustainable energy systems.

                10. India and France Reaffirm Commitment to Power Sector Cooperation

                    Shri Pankaj Agarwal, Secretary, Ministry of Power, held a meeting in New Delhi with Mr. Bernard
                    Fontana, Chairman and Chief Executive Officer, EDF, France, to review the ongoing engagement
                    between India and EDF on the proposed deployment of EPR reactors in India. The meeting was
                    attended by officials from the Ministry of Power, the Ministry of External Affairs, Central Electricity
                    Authority (CEA), NTPC Limited and NPCIL on the Indian side, and by officials of EDF and the Embassy
                    of France in India on the French side.

                    The discussions centred on the deployment of EPR technology, India's regulatory reforms for the
                    nuclear sector, cooperation on pumped hydro storage projects, and the way forward for a robust,
                    mutually beneficial partnership.

                    EDF apprised the Indian side of its efforts to build an ecosystem and supply chain in India for large-
                    scale localization, and reiterated that a sizeable programme with multiple nuclear reactors would give
                    suppliers confidence and enable economies of scale by leveraging Indian industry's capabilities.

                    Secretary (Power) briefed the French side on the progress made in finalizing India's regulatory
                    framework for the nuclear power sector, including the Draft SHANTI (Sustainable Harnessing and
                    Advancement of Nuclear Energy for Transforming India) Rules and Regulations, placed by the
                    Department of Atomic Energy in the public domain for stakeholder consultation. The Rules provide
                    for a streamlined, time-bound licensing framework and enable participation of private and foreign
                    partners in India's nuclear power programme.

                    The two sides also discussed cooperation on pumped hydro storage projects, building on the
                    proposed NTPC-EDF joint venture in this area.

                11. New Corporate Average Fuel Economy (CAFE) Norms Notified

                    The Ministry of Power, Government of India has notified the new Corporate Average Fuel Economy
                    (CAFE) Norms for passenger vehicles, which will come into effect from 1 April 2027 and remain
                    applicable up to 31 March 2032. The new norms will apply to new passenger vehicles manufactured
                    or imported for sale in India.

                    The new CAFE framework will drive progressive improvements in fuel economy through year-on-year
                    tightening of targets across all five years. The fuel-consumption benchmark is tightened from 3.996

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