'Energy security directly linked to economic security': PM Modi highlights impact of global crisis

The ongoing global crisis has sent a clear message that energy security is directly linked to economic security, Prime Minister Narendra Modi noted on Monday, highlighting India's push towards clean energy and green hydrogen to strengthen its energy independence.

"If India had not invested in clean energy and built new systems over the past decade, our crisis could have been far more serious than that of the rest of the world," Modi said at the Bharat Renewable Energy Summit & Expo (BRESE) 2026.

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The future of energy security lies in clean energy, he said, adding that fossil fuel reserves are limited while the potential of renewable energy is limitless, with every region and country able to benefit from it.

PM Modi said India is moving forward in mission mode to achieve a major leap in green hydrogen production. Under the National Green Hydrogen Mission, the country has set a target of producing 5 million tonnes of green hydrogen by the end of this decade.

The government is also integrating green hydrogen into the transport sector, he added.

Highlighting India's progress in renewable energy, PM Modi said more than 50% of the country's total installed power capacity is now based on non-fossil fuel sources.

India has already achieved nearly 300 GW of non-fossil fuel-based energy capacity and is making steady progress towards its target of 500 GW, he noted.

The Prime Minister also highlighted that India is among the world's top three countries in solar and renewable energy.

He said the country's ambitious target of adding another 100 GW of new non-fossil fuel-based energy capacity, expressing confidence in India's ability to achieve it.

Highlighting India's progress in expanding access to clean energy, Modi said the PM Surya Ghar Muft Bijli Yojana, launched in February 2024 with a target of covering 1 crore households, has connected more than 65 lakh residences over the past two years, reducing their electricity bills by 76%.

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Under the PM-KUSUM scheme, solar installations are benefiting more than 30 lakh farmers, generating estimated annual savings of Rs 1 lakh per farmer. Solar systems installed across more than 44,000 government buildings are also generating annual savings of around Rs 700 crore, he said.

The Prime Minister also highlighted the expansion of India's domestic clean energy manufacturing ecosystem, noting that solar module production capacity has increased from 2 GW a decade ago to more than 200 GW, while solar cell manufacturing capacity has reached 40 GW. The country's renewable energy infrastructure is being strengthened through dedicated green energy corridors and a single-frequency national grid, backed by a recent government investment decision of Rs 2 lakh crore, he said.

Modi said the renewable energy sector has attracted investments of more than Rs 15 lakh crore over the past decade, including around Rs 6 lakh crore since the 2024 ReInvest summit. Investment opportunities in the sector are estimated to exceed Rs 20 lakh crore by the end of this decade. He also reiterated India's proposal for a $200 million Africa Solar Facility to extend clean energy technology and financing to developing economies.