Page 49 - Policy Economic Report - November 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

clean fuel revolution, supported by a biomass potential exceeding 1,350 MW and a growing network of
waste-to-energy projects totalling nearly 49 MW across 26 units.

Shri Joshi reiterated the Union Government’s commitment to supporting Haryana’s clean energy
ambitions. He said that the people of Haryana have always been at the forefront of the nation’s progress,
protecting India’s borders, feeding the country, and now leading the movement towards a cleaner and
greener energy future. He expressed confidence that Haryana will emerge as a global leader in clean
energy in the years to come.

India sees major collaboration potential with Canada in critical minerals, clean energy and emerging
technologies: Commerce and Industry Minister

Union Minister of Commerce and Industry, Shri Piyush Goyal, while addressing the Indo-Canadian
Business Chamber in New Delhi, said that India sees considerable scope for collaboration with Canada in
critical minerals, mineral processing technologies, clean energy, nuclear energy and supply-chain
diversification. He added that India offers strong advantages in emerging technologies such as artificial
intelligence, quantum computing, machine learning and next-generation data centres, supported by the
world’s largest annual pool of STEM graduates. He noted that Canada and India are natural allies whose
complementary strengths create significant opportunities for businesses and investors in both countries.

He further said that the India–Canada partnership continues to be grounded in mutual trust, democratic
values and a shared commitment to development. He emphasised that the bilateral relationship remains
strong and stable, with steadily growing engagement across trade, investment and emerging sectors.

Referring to the recent meeting between Prime Minister Shri Narendra Modi and Canadian Prime Minister
Mr. Mark Carney during the G20 Summit, Shri Goyal highlighted that both leaders agreed to begin
negotiations for a high-ambition Comprehensive Economic Partnership Agreement (CEPA) and double
bilateral trade by 2030. He said that CEPA reflects the trust between the two countries, strengthens
investor confidence and provides a robust framework for addressing issues based on mutual respect.

Shri Goyal underlined that India’s national power grid of 500 GW, including 250 GW of clean energy
capacity, provides the resilience required for AI-driven infrastructure. He noted that India’s ambition to
double clean energy capacity to 500 GW by 2030 positions the country as a trusted and sustainable
partner, and that India is among the few democracies capable of offering genuine 24-hour clean energy
at globally competitive rates.

Referring to the seventh Ministerial Dialogue held earlier this month with Canada’s Minister of
International Trade, Shri Goyal said both sides agreed to reinvigorate business-to-business engagement
and explore two-way business delegations. He appreciated the steady flow of Canadian investments into
India, particularly through Canadian pension funds, and noted the increasing interest of Canadian
companies in expanding operations in the country.

Shri Goyal also highlighted India’s strong economic fundamentals, stating that the country has moved
from the “Fragile Five” to being among the world’s top five economies. He reiterated that India is expected
to become the world’s third-largest economy in the next 2–2.5 years, supported by low inflation, a strong

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