Page 65 - Policy Economic Report - Jan 2026
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POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
Solomon Islands, Spain and Antigua and Barbuda, expressing confidence that their leadership will further
strengthen multilateral cooperation and advance a sustainable and inclusive global energy transition.
The Union Minister also held a meeting with Dr. Amna bint Abdullah Al Dahak, Minister of Climate Change
and Environment of the United Arab Emirates, to further strengthen India–UAE cooperation on climate
action, clean energy and food security. During the interaction, the two sides reviewed the expanding
partnership in renewable energy, investment and innovation, anchored in multiple Memoranda of
Understanding signed between 2014 and 2024 and aligned with the UAE’s Net Zero 2050 goal. The
discussions focused on enhancing collaboration in renewables, decentralised energy solutions,
manufacturing, energy storage, technology cooperation and blended finance, with an emphasis on
people-centric, scalable initiatives to enhance energy security, resilience and long-term sustainability.
Bioenergy to Play Pivotal Role in Decarbonising MSMEs: Union Minister of State Shripad Yesso Naik
Union Minister of State for New and Renewable Energy and Power highlighted the pivotal role of
bioenergy in India’s clean energy transition, particularly in decarbonising industrial process heat in the
MSME sector. The Minister was delivering the keynote address at a national workshop on’ Introduction
and Adoption of Biomass for Green Steam and Heat Applications in MSMEs’, organised by the Ministry of
New and Renewable Energy in collaboration with the German Agency for International Cooperation (GIZ)
and Grant Thornton Bharat. On the occasion, the Minister also jointly released the report titled
“Decarbonizing MSMEs: Use of Biomass for Green Steam and Heat Application”.
Shri Naik said that under the leadership of Prime Minister Narendra Modi, India’s renewable energy
journey has witnessed unprecedented momentum over the past decade, with bioenergy emerging from
a peripheral role to become a strategic pillar of the country’s clean energy transition.
The Minister noted that bioenergy today extends far beyond electricity generation and contributes
simultaneously to multiple national priorities, including energy security, rural livelihoods, waste
management, pollution reduction and climate action. Highlighting the challenge of industrial
decarbonisation, particularly in the MSME sector, he pointed out that while MSMEs contribute nearly
one-third of India’s manufacturing output and employ millions, a significant share of their energy demand
for steam and heat continues to be met through fossil fuels such as coal, furnace oil and pet coke.
Transitioning this segment towards clean and renewable thermal energy, he emphasised, is therefore
essential.
Emphasising that biomass-based green steam and heat solutions offer a practical, scalable and India-
specific pathway, the Minister said that India’s abundant availability of agricultural residue, animal waste
and municipal solid waste presents a unique opportunity to convert waste into value, reduce emissions
and generate additional income for farmers and rural entrepreneurs. He outlined the Government’s
integrated approach through initiatives such as the National Bioenergy Programme, SATAT and
GOBARdhan, which support biomass briquettes and pellets, non-bagasse-based cogeneration, industrial
applications and decentralised solutions tailored to MSMEs, while also strengthening linkages with the
National Green Hydrogen Mission.
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