Mumbai, May 12: India continues to prioritize bioenergy and green hydrogen as key pillars of its energy strategy, amid rising geopolitical tensions, according to Shaktikanta Das, Principal Secretary to Prime Minister Modi and former RBI Governor.
Speaking at the CII Annual Business Summit 2026, Das highlighted that India’s economic resilience is anchored in macroeconomic stability, with the government’s fiscal position and the banking system remaining robust despite global uncertainties.
“Corporate balance sheets are stronger than ever to support new investments. The government remains committed to reforms and is not complacent,” Das said.
However, he cautioned that escalating tensions in West Asia, particularly between the US and Iran, could continue to disrupt global supply chains and increase economic costs worldwide.
The remarks follow Prime Minister Modi’s recent appeal to citizens to conserve foreign exchange and reduce pressure on fuel imports by adopting measures such as working from home where possible, limiting non-essential gold purchases, postponing foreign travel, and reducing the use of cooking oil, imported products, and chemical fertilizers.
Defence Minister Rajnath Singh also assured citizens that the government is taking “concrete steps” to mitigate risks, chairing a meeting of the Informal Empowered Group of Ministers to review energy supply chains and ensure domestic availability of essential commodities.