“Energy security is an area where the world must work together. India is a major player — we import energy from across the globe, including the US,” Goyal said in his keynote address.
He noted that India anticipates expanding its trade in energy products with the US, stating, “As close friends and natural partners, our energy cooperation will increasingly include the US. This will bring price stability, diversified sources, and open up vast opportunities for collaboration.”
VIDEO | Commerce and Industry Minister Piyush Goyal, addressing an event in New York says, “We expect to increase trade with US on energy products in the years to come.”
(Full video available on PTI Videos – https://t.co/n147TvrpG7) pic.twitter.com/jOuH1R1YCd
— Press Trust of India (@PTI_News) September 24, 2025
Goyal, who is leading a delegation to the US to discuss trade agreements, highlighted nuclear energy as another area for deeper bilateral cooperation.
“Nuclear power is something we’ve discussed for a long time. While there were challenges, we are now supporting private sector efforts in this area. India continues to invest in nuclear energy and aims to double capacity in the coming years,” he said, adding that affordability and competitiveness remain key concerns.
He also stressed the need for resilient supply chains for critical minerals and greater investment in transmission infrastructure, both domestically and across borders, to support the global clean energy transition.
On regulatory alignment, Goyal said, “We must ensure that geopolitical tensions don’t compromise energy resilience. Regulatory frameworks must support seamless cross-border energy cooperation.”
Addressing the European Union’s Carbon Border Adjustment Mechanism (CBAM), Goyal warned of its potential economic fallout.
“CBAM could isolate the EU and raise costs, hurting their exports and economy. It may seem like green protectionism — a trap that could backfire,” he remarked.
Goyal also underlined India’s clean energy ambitions, stating the country is in a “sweet spot” and aims to grow its renewable energy capacity from 250 GW to 500 GW over the next five years.
The event coincided with the start of Navratri, which Goyal described as “an auspicious day when positive change is expected”. Dignitaries present included Union Minister Anurag Thakur, Petroleum Secretary Pankaj Jain, USISPF President Mukesh Aghi, and ReNew leadership.
