**India Seeks to Boost Energy Trade with the US, Highlights Strategic Partnership**
*New York:* India aims to significantly increase its trade with the United States in energy products in the coming years, with a strong emphasis on US involvement in achieving the country’s energy security goals, said Commerce and Industry Minister Piyush Goyal.
“Clearly, the world recognizes that energy security is one area where we all have to work together. India is a big player in the energy field; we are major importers of energy from across the world, including from the US,” Goyal stated on Tuesday during his keynote address at an event titled *Energy Security in a Shifting Global Landscape: Building Resilient Energy Markets Across Borders.* The event was hosted by the Consulate General of India in New York, the US-India Strategic Partnership Forum (USISPF), and ReNew, India’s leading decarbonisation solutions provider.
“We expect to increase our trade with the US on energy products in the years to come. Being close friends and natural partners, our energy security goals will have a very high element of US involvement. This partnership 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,” he added.
Goyal is currently leading a delegation in New York, engaging with US counterparts to reach an early conclusion of a bilateral trade agreement.
Noting the significance of the day, Goyal mentioned that September 22 marks the commencement of Navratri, an auspicious period in the Hindu calendar. “It is said that on this day, things are expected to turn for the better,” he remarked.
Distinguished 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.
### Collaboration on Nuclear Power and Critical Minerals
Goyal highlighted nuclear power as another key area for Indo-US collaboration. “It’s an area we’ve been discussing for a long time. Some elements needed to be addressed, and I believe we are now working to support private efforts in nuclear power in India,” he said.
He emphasized the importance of securing resilient critical mineral supplies and diversifying sources to prevent the weaponization of trade. “We need to build infrastructure, particularly transmission grid infrastructure both within countries and across borders, which can become the backbone of the clean energy transition for various nations.”
“We all must seriously work to align our regulatory frameworks to enable cross-border energy trade without concerns that geopolitics will undermine energy resilience or security,” Goyal added.
India continues to invest in nuclear energy with ambitions to double its capacity in the coming years through government intervention, while also planning to expand on a larger scale. “There are challenges related to price and energy costs that must be addressed to make nuclear power more competitive,” he noted.
### Ambitious Clean Energy Expansion
Goyal described India as being in a “sweet spot” to expand its clean energy capacity, projecting growth from 250 gigawatts to 500 gigawatts over the next five years.
He also commented on the European Union’s Carbon Border Adjustment Mechanism (CBAM), warning of its wide-ranging implications. “In fact, it could isolate the EU and hurt their economy, making them akin to a small island. While others continue trading, the EU may face inflation, unviable infrastructure costs, and loss of market share in exports,” Goyal explained.
He cautioned against green protectionism, describing it as “like a trap. If someone buries their head in the sand, they may find it very difficult to come out.”
—
*Disclaimer: This story is sourced from a syndicated feed. Only the headline has been modified.*
https://www.freepressjournal.in/business/india-us-trade-ties-to-strengthen-with-focus-on-energy-security-commerce-minister-piyush-goyal
