News On Air | India Energy Week 2023 gives opportunities to global leaders & companies to deliberate upon pressing issues of energy transition in world: Union Minister Hardeep Singh Puri

Feb 08,2023

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri says the India Energy Week 2023 gives opportunities to global leaders and companies to deliberate upon the pressing issues of energy transition in the world. He was speaking at the concluding session of the three-day India Energy Week 2023 at Bengaluru today. He said, that after watching the response of the people, the Government has decided to make it an annual event.  The Minister informed that the next year it will be held in Goa.

Our Correspondent reports that during the three-day event, India showcased its initiatives in the field of clean energy transition and launched various schemes which will help not to decarbonise its economy but help to achieve net zero emission by 2070, which was set by Prime Minister Modi himself at COP26 at Glasgow.   To realise the targets Prime Minister launched three major green initiatives at the event which include, Ethanol blending of 20 per cent in petrol, an Unbottled scheme to phase out single-use plastic and an Indoor Solar Cooking System to provide an eco-friendly cooking solution.

As per estimate if this cooking system reaches 30 million households by 2025-26,  it would lead to savings in LPG cost by more than one lakh crore rupees and forex savings of 50,000 crore Rupees.

Meanwhile, the Ethanol Blending Program and  Biofuels Programme have not only augmented India’s energy security but have also resulted in a host of other benefits including a reduction of 318 Lakh Metric Tonnes of CO2 emissions and foreign exchange savings of around 54,000 crore rupees.  As a result, there has been a payment of around 81,800 crore rupees towards ethanol supplies from 2014 to 2022 and a transfer of more than  49,000 crores rupees to the farmers. India recently announced its aims to reach net zero emissions and to meet fifty per cent of its electricity requirements from renewable energy sources by 2030, which will be seen as a hugely significant moment for the global fight against climate change.