The energy ministers of India and US after a meeting have called for a stable, diversified, and globally responsible clean energy supply chain to minimize risks and uncertainties.
Oil minister Hardeep Singh Puri and US energy secretary Jennifer Granholm met in New Delhi on Tuesday to review the progress under the U.S.-India Strategic Clean Energy Partnership (SCEP).
“The sides also underscored the importance of a stable, sustainable, diversified, resilient, and globally responsible clean energy supply chain to enable energy transition pathways while minimizing risks and uncertainty,” the two sides in the joint statement.
Countries are wanting a more reliable and resilient global supply chain after the Covid-led trade disruption and the growing geopolitical tensions, this have prompted a relook at the global supply chain. Nations like the US, Europe, India, and some other countries have brought in new policies and subsidies to take a significant share in the clean energy trade, which is expected to explode and is currently dominated by China.
The two energy ministers during the meeting acknowledged that successfully achieving ambitious climate and clean energy aspirations necessitates coordinated efforts on the development of energy transition roadmaps, capacity building, job skilling, and sharing of best practices at all levels of government, according to the statement. The two sides agreed to work toward the development of net zero villages in India.
During the meeting, the two countries also “recognized the importance” of the “Electric Vehicle (EV) financing services facility” to create dedicated funds for e-mobility and launched the South Asia Group for Energy (SAGE) to deepen the engagement between Indian agencies and US national laboratories to support research, analysis, and capacity-building activities.