MUMBAI — Bioenergy and green hydrogen will remain among the Indian government’s top priorities as the country works to strengthen energy security and economic resilience during a period of rising geopolitical tension, Prime Minister Narendra Modi’s principal secretary Shaktikanta Das said Monday.
Speaking at the CII Annual Business Summit 2026 in Mumbai, Das said India’s resilience continues to rest on macroeconomic stability. He said the government’s fiscal position and the banking system remain stable despite global uncertainty.
“Corporate balance sheets are now in a much better position to support fresh investments, while emphasising that the government remains committed to reforms and there is no complacency on that front,” Das said.
Das, a former Reserve Bank of India governor, warned that escalating tensions between the U.S. and Iran, along with related supply disruptions, are likely to continue raising costs for economies around the world.
His remarks came a day after Modi appealed to Indians to adopt measures aimed at helping the country manage the economic impact of tensions in West Asia. Modi urged people to work from home where possible, avoid non-essential gold purchases and refrain from foreign travel for a year.
The prime minister also asked citizens to reduce the use of cooking oil, foreign-made products and chemical fertilizers.
The measures are being viewed as part of a broader effort to conserve India’s foreign exchange reserves and reduce pressure on fuel imports at a time of volatile global energy markets.
Defence Minister Rajnath Singh also urged citizens not to panic, saying the government is taking “concrete steps” to reduce the impact of ongoing geopolitical developments.
Singh chaired the fifth meeting of the Informal Empowered Group of Ministers on Monday to review risks to energy supply chains and assess the domestic availability of essential commodities amid the conflict in West Asia. (Source: IANS)
