Prime Minister Narendra Modi’s Principal Secretary, Shaktikanta Das, highlighted the significance of bioenergy and green hydrogen for India’s energy security and economic resilience. Speaking at the CII Annual Business Summit 2026 in Mumbai, Das underscored that India’s strength lies in macroeconomic stability, with a stable fiscal position and banking system amid global uncertainties.
Das noted the improved corporate balance sheets that can support new investments, emphasizing the government’s dedication to ongoing reforms without complacency. However, he warned about the potential high costs on economies worldwide due to escalating tensions between the US and Iran, leading to supply disruptions.
Following Prime Minister Modi’s call for measures to mitigate the economic impact of tensions in West Asia, citizens were urged to adopt practices like working from home, reducing gold purchases, and minimizing the use of foreign-made products and chemical fertilizers. These steps aim to conserve foreign exchange reserves and alleviate pressure on fuel imports amidst volatile global energy markets.
Defence Minister Rajnath Singh reassured citizens by stating that the government is actively taking measures to minimize the effects of geopolitical developments. He chaired a meeting to evaluate energy supply chain risks and ensure the availability of essential commodities in response to the West Asia conflict.
