The institutional framework in India attracts investments for its growing energy needs - private sector investments are allowed in coal mining, open up oil and gas retail markets.

The blue-chip NSE Nifty 50 index fell 0.4% to 14,687 and the benchmark S&P BSE Sensex dropped 0.6% to 49,579.75

US crude imports by India stood at 12.69 million mt in 2020, up nearly 29% from a year earlier, helping the country move up to fifth position from sixth in 2019,

India aims to achieve 175 GW of renewable capacity (excluding large hydropower) by 2022.

The UAE was India's third-largest supplier of crude in 2020, behind Iraq and Saudi Arabia, with volumes of 21.35 million mt and an 11% market share,

Iraq's oil minister and a Total delegation also discussed potential development of solar power projects in the country's central and southern provinces. The two sides also discussed Total's potential support and financing of oil infrastructure projects.

The $150 million project at a deepsea port on Matarbari island, in the Bay of Bengal, is expected to be ready by 2025 and will commence operations soon after,

The Central Electricity Authority (CEA) projects that solar and wind will form 51% of India’s total installed capacity, or 420GW, by 2030, with biomass and small hydro adding another 30GW, while the IEA’s India Energy Outlook 2021 says that India could add 900GW of renewable capacity by 2040.

The NSE Nifty 50 index was up 0.77% at 14,820.45 by 0450 GMT, while the S&P BSE Sensex gained 0.63% to 50,061.21.

Hydropower accounts for 13% of India's total capacity, with 50 GW (2019). Over 93 GW of new hydropower projects are in various phases of development.

One of the key mitigation measures is development of adequate energy storage capacity in India.

This dramatic growth in renewable energy capacity reinforces the fact that India is witnessing an unprecedented energy transition to low-carbon development,

Budget 2021-22 is a mixed bag in terms of support for India’s transition to a sustainable, low carbon economy.

Combined, they accounted for or 22,451 megawatts (MW) or more than three-quarters (78.09%) of the 28,751 MW of new utility-scale capacity reported to have been added last year. Wind (13,626 MW) and solar (8,543 MW) each contributed more new generating capacity than did natural gas (6,259 MW).

An expanding economy, population, urbanisation and industrialisation mean that India sees the largest increase in energy demand of any country, across all of our scenarios to 2040.