Singapore (PTI): For emerging economies, access to energy is essential for industrialisation, employment generation and improving living standards, Energy Minister Shripad Yesso Naik said as he demonstrated India's practical perspective to developing economies.
Addressing an international conference in Singapore on Monday, he said, "Meeting rising demand therefore requires not just more generation, but stronger grids, efficient distribution, energy storage and flexible operations."
"Against this global backdrop, India's experience offers a practical perspective. India is the world's third-largest producer and consumer of electricity, with installed capacity of approximately 560 GW, including around 308 GW from non-fossil-fuel sources," he said.
"For emerging economies, access to energy is essential for industrialisation, employment generation, improved living standards and essential services. Our strategies must balance these development priorities with the need for sustainable and resilient power systems," said the Minister of State in the Ministries of Power, New and Renewable Energy.
Addressing over 1,000 delegates at the Singapore International Energy Week, he pointed out that electrification, artificial intelligence, data centres, electric mobility, rising cooling requirements and urbanisation are reshaping electricity demand.
"At the same time, the generation mix is evolving with the expansion of renewable energy and the development of emerging technologies," he said.
Naik shared India's experience over the past decade. "India's solar capacity has grown more than 55-fold, exceeding 170 GW. Rooftop solar has also expanded significantly, covering over 6.3 million households with more than 18 GW of installed capacity," he said.
He pointed out that in June 2025, India achieved its Nationally Determined Contribution target of 50 per cent of cumulative installed electricity capacity from non-fossil-fuel sources, over five years ahead of schedule. "Our 2035 NDC raises this target to 60 per cent, while our long-term goal remains Net Zero emissions by 2070."
"To support this growth, India is strengthening energy storage, with requirements projected to exceed 400 GWh by 2032, alongside investments in transmission, distribution and digitalisation," he informed the delegates.
"We have also opened up the nuclear energy sector to wider participation through reforms, while advancing indigenous capabilities and targeting 100 GW of nuclear capacity by 2047. Energy efficiency, carbon capture, utilisation and storage, and green hydrogen are additional priorities," he said.
These efforts aim to build a resilient power system that integrates diverse energy sources and meets India's growing electricity demand, said the minister.
Transmission constitutes a vital component of the power sector value chain. India has the world's largest synchronous grid, connecting the entire country under the principle of "One Nation–One Grid–One Frequency" and is capable of inter-regional transmission capability of over 120 GW, he said.
"We are expanding our national transmission network to facilitate the large-scale integration of renewable energy, accelerating the development of Green Energy Corridors, and strengthening the distribution sector through the Revamped Distribution Sector Scheme (RDSS), which has contributed to the financial turnaround of distribution utilities," Naik said, inviting both the public and private sector investors.
He also called for international cooperation to help countries address shared challenges through knowledge-sharing, technology cooperation, capacity-building and investment.
"Regional electricity interconnections and cross-border power trade can improve system flexibility and resilience by enabling countries to benefit from complementary energy resources," underlined Naik, calling for cooperation in technology and skills development to strengthen domestic capabilities, create jobs and support industrial growth in emerging economies.
India looks forward to working with partners, including Singapore, to advance these shared priorities, he added.
The minister also pointed out that financing is another critical enabler, saying. "Emerging economies need timely, adequate and affordable long-term finance to meet rising electricity demand and develop essential infrastructure. Investment must extend beyond generation to transmission, distribution and storage.
He continued, "Governments must provide policy certainty, while the private sector contributes capital, innovation and expertise. Public-private partnerships and support from multilateral development banks can help mobilise investment and turn technological potential into viable projects."
India's experience demonstrates that economic growth, energy security and sustainability can advance together, guided by national development priorities, he stressed.
Naik told the delegates, "Our success must be measured not only by the capacity we install or the investment we mobilise, but also by the resilience we build and the lives we improve."
The five-day summit, held October 27-30, 2026, was hosted by the Energy Market Authority (EMA) of Singapore which is exploring a wide range of energy resources through investments and supply contracts to support its globally-linked economy.
This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.
