Page 67 - Policy Economic Report - Jan 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

India’s Energy Transition Philosophy

The Union Minister reiterated India’s commitment to achieving net-zero emissions by 2070, stressing that
the country’s approach is guided by the principle of Vasudhaiva Kutumbakam — One Earth, One Family,
One Future. He noted that India views sustainability as a strategic transformation of the economy and
society, rather than merely a technological shift, and is pursuing renewables with conviction as the most
reliable, affordable and future-ready pathway for growth.

Bilateral Engagements and Meetings with Industry Leaders

In a meeting with H.E. Dr. Said Mohammed Ahmed Al Saqri, Economic Advisor at the Office of the Deputy
Prime Minister for Economic Affairs, Oman, the Union Minister highlighted India’s proven capability to
scale solar, wind, green hydrogen and energy storage solutions, including in arid and desert conditions.
Discussions covered potential areas of cooperation like joint collaboration on manufacturing and export
of solar modules, electrolysers and green hydrogen, investments in renewable-powered hydrogen hubs,
integrated energy projects and port-based export infrastructure, and leveraging the India–Oman CEPA
and cooperation under the International Solar Alliance and the One Sun One World One Grid initiative.

Union Minister held a forward-looking meeting with H.E. Mr. Maxime Prévot, Deputy Prime Minister and
Minister of Foreign Affairs, European Affairs and Development Cooperation of Belgium. The discussions
reaffirmed the strength of the India–Belgium partnership, anchored in mutual trust, predictability and
shared democratic values.

Union Minister also held a constructive with H.E. Subaih Abdul Aziz Al-Mukhaizeem, The Hon’ble Minister
of Electricity, Water and Renewable Energy, Kuwait; wherein issues pertaining to investments in the
Renewable Energy sector were discussed.

On the sidelines of the Annual Meeting, Shri Joshi held a series of high-level bilateral interactions to
strengthen international cooperation and investment in clean energy.

Engagement with Global Investors

Shri Joshi also held discussions with Charles Emond, President and CEO, and Ms. Sarah Bouchard, COO of
La Caisse, focusing on scaling long-term climate and clean-energy investments in India. He encouraged
upscaling the “Partner with India” initiative to tap into the group’s committed USD 400 billion in climate
action investments by 2030, highlighting strong alignment between India’s clean-energy ambitions and La
Caisse’s climate investment strategy.

In another interaction, the Union Minister met Mr. Juvencio Maeztu, CEO and President of Ingka Group,
which operates the IKEA retail business. The Ingka Group expressed keen interest in entering India’s
renewable energy sector in a significant manner, particularly in solar, wind and hybrid solutions. Shri Joshi
encouraged the group to scale up its engagement in India, leveraging the country’s stable policies and
investment-friendly ecosystem.

January 2026 Page | 66