Commerce and Industry Minister Piyush Goyal said that India expects to increase its trade with the US in energy products in the years to come, and the country’s energy security goals will have a significant element of US involvement.
“Clearly, the world recognises that (energy security) is one area where we all have to work together. India is a big player in the energy field… we are big importers of energy from across the world, including from the US,” Goyal said on Tuesday at an event at the Consulate General of India in New York.
Goyal is leading a delegation for meetings in New York with the US side to achieve an early conclusion of a bilateral trade agreement.
As per the PTI report, Goyal said that he expects to increase our trade with the US on energy products in the years to come.
“And being close friends, natural partners, our energy security goals will have a very high element of US involvement, which will ensure price stability, diversified sources of energy for India and help us unlock limitless possibilities with the US on various fronts, energy and beyond,” Goyal said
Goyal led trade delegation in New York
Commerce and Industry Minister Goyal is leading a delegation for meetings in New York with the US side to achieve an early conclusion of a bilateral trade agreement. The dignitaries attending the event included Member of Parliament Anurag Thakur, Secretary in the Ministry of Petroleum and Natural Gas Pankaj Jain, USISPF CEO and President Mukesh Agni, ReNew co-founder Vaishali Nigam Sinha and ReNew Chairman and CEO Sumant Sinha.
Noting that September 22 is the commencement of Navratri, he said it’s said that on this day, “things are expected to turn for the better.”
India- US nuclear partnership
Union Minister Goyal said that another area where India and the US can work together and plan to work together is nuclear power.
“We all have to work very seriously to align our regulatory frameworks to see how this cross-border energy can be guaranteed without any concerns of geopolitics overtaking the energy resilience or energy security,” he said.
He underlined that collectively today, India is in a sweet spot to expand its clean energy, and over the next five years, “we hope to grow from 250 gigawatt to 500 gigawatt.”
“And at the same time, this green protectionism is like a trap in which, if somebody buries his head, he may find it very difficult to come out of the sand,” Goyal said.