In a historic speech at the inaugural ceremony of the India Energy Week (IEW) 2026, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri announced that India is set to meet 35% of the world’s future energy demand growth in the next two decades. This statement emphasizes the importance of India in the future global energy scenario due to the current geopolitical changes.
The Global Energy Shift
Minister Puri highlighted that the center of gravity of energy consumption has shifted towards developing countries.
He said that “almost 80% of the growing demand for energy in the world comes from emerging economies, and about 60% of this comes from developing Asia.”
“India is set to account for as much as 35 per cent of the incremental growth in global energy demand over the next two decades,” Union Minister for Petroleum and Natural Gas Hardeep Singh Puri stated, underscores the nation’s pivotal role in shaping future energy markets.
Addressing the Energy Trilemma
Despite the rapid push for green energy, the Minister cautioned that conventional fuels remain essential for global stability. He remarked that “if investment in existing oil and gas production were to stop today, global oil output would decline by around 8 per cent annually over the next decade,” reinforcing the idea that energy transitions are about addition rather than immediate replacement.
For India, the focus remains on the “energy trilemma”:
- Availability: Ensuring uninterrupted energy across the nation.
- Affordability: Keeping energy prices among the lowest globally.
- Sustainability: Diversifying the mix through biofuels and green hydrogen.
Progress in Clean Energy and Reforms
The Minister pointed out important milestones in the energy journey of India, such as the achievement of 20% blending of biofuels and the huge scale-up of the Ujjwala scheme, which has expanded from 14 crore LPG connections in 2014 to 33 crore now.
On the regulatory front, India has opened nearly one million square kilometres of previously restricted “no-go” sedimentary basins for exploration. The government also announced the launch of the 10th Open Acreage Licensing Policy (OALP) round and a special coal bed methane bidding round for 2025 to bolster domestic production.
A Global Hub for Innovation
Puri also highlighted the emergence of India as a destination for Global Capability Centers (GCCs). The sector is expected to reach a revenue of $105 billion by 2030 with over 1,700 GCCs in operation, employing over 2.8 million people.
In conclusion, the Minister reiterated that India is ready to work together with its international partners to build a future that is “secure, resilient and inclusive,” turning the spirit of high-level dialogue into concrete delivery for the global economy.
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