Page 55 - Policy Economic Report - March 2026
P. 55
POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
Infrastructure, Storage and Market Developments
? India needs to add over 1.37 lakh circuit km of transmission lines by 2030, with investments of
around ?9 lakh crore
? Energy storage requirements are expected to rise sharply, with pumped storage potential of
over 200 GW
? Battery Energy Storage Systems (BESS) are emerging as a key solution for peak demand
management
? Renewable energy tariffs and market mechanisms continue to evolve, improving long-term price
discovery and investor confidence
? The Indian Carbon Market Portal was launched, with trading expected to begin shortly, marking
a major step in climate finance
Digital Transformation
Digital transformation emerged as a defining force, with the power sector increasingly leveraging
Artificial Intelligence, Machine Learning, and digital twins to move towards predictive and intelligent grid
operations. The concept of “India Energy Stack,” inspired by the success of digital public infrastructure,
aims to create seamless, interoperable energy systems. Initiatives such as smart metering and rooftop
solar adoption are empowering consumers to become “prosumers,” actively participating in the energy
ecosystem.
State-Level Leadership and Initiatives
States showcased ambitious roadmaps:
? Gujarat: Renewable capacity target of 190 GW by 2047
? Andhra Pradesh: Integrated clean energy hub with investments exceeding ?6 lakh crore
? Maharashtra: Demand projected to reach 280 TWh by 2030, with large-scale capacity expansion
? Bihar: Advancing storage and grid infrastructure with structured investment pipelines
? Delhi: Transitioning towards a high-renewable, storage-integrated urban power system
Global Cooperation and Bilateral Engagements
The Summit facilitated multiple high-level bilateral meetings with countries including Malawi, Tajikistan,
Mauritius, Kyrgyzstan, and Russia, as well as industry stakeholders such as Africa50 and international
delegations.
These engagements focused on:
? Cross-border electricity trade
? Renewable energy collaboration
? Transmission infrastructure development
? Capacity building and technology transfer
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