Indian Economy News

India, only major economy closes to meeting Paris Agreement goals: Report

According to a statement from the Ministry of Petroleum and Natural Gas, India has effectively handled the energy trilemma of availability, affordability, and sustainability, assuring uninterrupted energy supply for its inhabitants.

The ministry stated that by efficiently controlling consumer prices, India has protected the general population from foreign price changes, putting the country's economy on pace to reach its Paris climate agreement commitments.

According to the government, India is also actively working to transition to a greener future through projects such as biofuels, green hydrogen, and a gas-based economy.

The statement claimed that the "Recent gas pricing reforms have resulted in a 10% reduction in the average cost of piped natural gas (PNG) and a 6-7% decrease in compressed natural gas (CNG) prices".

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.