Overdependence on fossil fuels will continue to disrupt global economy: PM Modi

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Modi noted that the renewable energy sector has attracted over ₹15 lakh crore, or $164 billion, over the past decade

By Rishi Ranjan Kala

Updated - November 02, 2026 at 09:43 PM. | New Delhi

Prime Minister Narendra Modi addresses the gathering during the 'Bharat Renewable Energy Summit & Expo 2026' (Bharat RE-INVEST 2026) in New Delhi | Photo Credit: -

Emphasising that energy security is directly connected with economic security, Prime Minister Narendra Modi on Monday pointed out that the geopolitical upheavals this year have demonstrated that clean energy can ensure energy security, and overreliance on fossil fuels will continue to lead to disruptions in the global economy.

Inaugurating the Bharat Renewable Energy Summit & Expo (BRESE) 2026, the Prime Minister noted that in the last 10 years, India pursued sustained domestic investment and systemic reforms in the clean energy sector, which shielded the country from severe external shocks.

“The global crisis has given a clear message to every country that energy security is directly related with economic security. We all know that the future of energy security is in clean energy. If we continue to be over dependent on fossil fuels, then the global economy will be disrupted again and again because fossil fuel resources are limited and concentrated in some regions, while renewable energy is unlimited and every country and region can use it,” he stressed.

policy stability

Inviting global investors to leverage India’s demand, scale, scope and political and policy stability, the Modi noted that the renewable energy sector has attracted over ₹15 lakh crore, or $164 billion, over the past decade, including over ₹6 lakh crore, or $63 billion, in just the two years since the 2024 RE-INVEST Summit.

Investment opportunities are projected to exceed ₹20 lakh crore, or $220 billion, by the end of this decade. A new sky of opportunities will open up in India’s clean energy sector for all, Modi affirmed. Emphasising that India wishes to share the benefits of its innovations and experiences with all of humanity, the Prime Minister stated that the nation approaches green energy with the same cooperative spirit and gave specific examples. “The successes of India in this field will come in handy for numerous countries of the world,” the Prime Minister added.

“Over the next 10-11 years, our effort will be to add 500 gigawatts of new non-fossil fuel capacity. This target is somewhat difficult, but I have faith in the capabilities of our country. And that is why I say, We will do it,” he assured.

The Minister for New & Renewable Energy Pralhad Joshi noted that the sector is growing at a fast pace in India and will play an important role in meeting the country’s future power demand. India’s non-fossil power capacity has risen to 310 gigawatt (GW) from over 200 GW in September 2024. In the last two years, the country added 110 GW of non-fossil fuel-based capacity, reporting more than 50 per cent growth, he noted.

India discovered the lowest price of green hydrogen at ₹279 and ₹49.75 a kg for green ammonia. Besides, Indian companies signed the world’s largest green hydrogen offtake commitments, totalling over 5.5 lakh mtpa, positioning India as the global leader in green hydrogen supply commitments. Indian companies have signed 18 offtake agreements this year to supply over 4 lakh mtpa of green hydrogen, he added.

Published on November 2, 2026

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