India Energy Week 2026: Hardeep Singh Puri pushes ‘energy addition’, balanced investment across renewables, oil, gas and nuclear

India Energy Week 2026: India’s energy transition must focus on expanding supply across fuels rather than replacing one source with another, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday, January 27, outlining a strategy that blends renewables, conventional energy and nuclear power to meet surging demand. Speaking at India Energy Week in Goa, Puri said India’s approach centres on “energy addition”, backed by reforms, global partnerships and sustained investment across oil, gas, biofuels, LNG, green hydrogen and clean cooking fuels.

Energy transition about addition, not replacement

Addressing policymakers, industry leaders and investors, Puri said the global energy transition has historically been driven by adding new sources to the mix, not discarding existing ones. While renewables are expanding rapidly, he said conventional energy will remain essential as demand rises, particularly in emerging economies. India’s policy, he added, is designed to ensure security, affordability and access while accelerating cleaner alternatives.

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Goa pitches 100% renewables by 2050

Host state Goa used the platform to showcase a long-term roadmap to achieve 100 per cent renewable energy by 2050. State officials highlighted grid upgrades, storage and policy support as key enablers, positioning Goa as a testbed for India’s clean energy ambitions.

Reforms aim to crowd in global capital

Puri detailed reforms to attract global investors, including opening large sedimentary basins for exploration, successive Open Acreage Licensing Policy rounds and Discovered Small Fields bidding. He said the upstream framework now offers greater stability and faster approvals, with early assessments from recent deep-water exploration rounds described as encouraging.

Ethanol blending cuts forex bill, boosts farm incomes

India has achieved nearly 20 per cent ethanol blending in the Ethanol Supply Year 2025, delivering foreign exchange savings of about USD 19.3 billion and direct payments exceeding USD 15 billion to farmers over the past decade, Puri said. He added that the country remains on track to meet compressed biogas targets as part of a broader bioenergy push.

Nuclear ambition rises to 100 GW by 2047

Looking ahead, Puri said India’s share of global energy demand could rise to around 10 per cent by 2050, driven by economic growth and urbanisation. To meet this, the government plans to expand capacity across the full energy mix, including scaling nuclear power to 100 GW by 2047. He said the updated nuclear legal framework will support long-term investment and technology partnerships.

Underinvestment biggest global risk, says UAE minister

Echoing the call for balance, Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates and Managing Director and Group CEO of ADNOC, warned that underinvestment is the greatest risk to the global energy system. He said demand is entering a phase of transformation at scale, driven by emerging markets, digitalisation and the integration of diverse energy systems, making balanced investment critical for security and affordability.

Clean cooking, gas push underline inclusive growth

Puri highlighted India’s rapid expansion of LPG coverage and clean cooking access as evidence of inclusive growth. He said prices for key fuels have been managed to protect consumers, particularly beneficiaries under government schemes, even as volatility affected global markets after 2021.

Global partnerships gain momentum

A high-level ministerial panel discussed pragmatic policies, sustained capital flows and stronger international cooperation to navigate volatility. Tim Hodgson, Minister of Energy and Natural Resources of Canada, said Ottawa is keen to deepen cooperation with India in LNG, critical minerals, oil supplies and long-term energy trade.

Flagship forum for a volatile decade

Puri said India Energy Week has rapidly evolved into a trusted global forum that brings together producers, consumers, technology providers and investors at a time of unprecedented transition. “May India Energy Week serve as a catalyst for collective progress and a place where solutions are shaped for the benefit of the world,” he said.

Earlier in the day, Puri met Pramod Sawant and Al Jaber on the sidelines of the summit, underlining Goa’s role as a convening hub for global energy dialogue.