India is working on reducing its dependency on fossil fuels and incorporating more of greener energy assets. In this endeavour, it is also going with bilateral as well as multilateral cooperation with other nations, thus proving to the world that it is a responsible and a responsive nation.
For long, there have been rivalries among nations around energy and it has affected the nations on all fronts be it social, political, economic, environmental, bureaucratic, technological or legal. This strategy of India’s foreign policy is helping it in establishing itself as a global power that is mindful of the world environment and doing its bit in reducing the carbon footprints.
The country’s stress on reducing the dependency on fossil fuels and move slowly but steadily to the renewable sources will have multi-layered and multi-pronged implications. It will also help the nation in its geostrategic aspirations and ambitions. The energy diplomacy that the nation is following will help it evolve strongly on the global map, gaining a strategic dimension that will be more comprehensive in character.
The Managing Director of Bridge to India, Vinjay Rustag, said “When you talk to major international investors about the Indian renewables sector, the fundamentals for the sector are compelling. When you look at the imperative to reduce carbon emissions, the growing power demand, the desire to reduce energy costs, as well to provide power to people 24/7 across India, the fundamentals are so strong that we see a strongly growing renewable power sector for one or two or more decades in the future.”
The country has a blueprint ready for the next ten years on how it will start switching to renewable energy and by 2027 it is planning to fulfil 57% of the nation’s total electricity capacity from renewable fuel sources. It has embraced a multi-dimensional concept that is far better than the traditional binary idea of security of supply and security of demand.
When India talks of renewable sources, it does not only focus on solar or wind, but also includes bio, hydro. It is also trying to harness ocean energy, geothermal and nuclear energy in future. By using these energy sources ethically and efficiently, it is trying to build upon an environmentally sustainable economic development model.
The country’s leadership has also taken into account that a proper synergy should be maintained between maintaining the economic growth rate investing in global best practices and innovation of sustainable energy solutions. Thus, the government has taken a new approach towards its foreign policy orientations, which is helping it to emerge as a strong and a responsible nation.