Modi Warns Fossil Fuel Reliance Will Keep Jolting the Global Economy

Modi inaugurated the Bharat Renewable Energy Summit & Expo (BRESE) 2026 in New Delhi on Monday, and he didn't mince words about where the world's energy bets have gone wrong. Energy security and economic security are tied together, he said, and this year's geopolitical turmoil showed clean power is the safer route. Fossil fuels are limited and clustered in a handful of regions, he argued, while renewables are unlimited and open to everyone — so overdependence will keep rattling the global economy.

The pitch to global investors came with receipts. Modi said India's renewable sector has pulled in more than ₹15 lakh crore, or $164 billion, over the past decade. Of that, over ₹6 lakh crore — about $63 billion — landed in just the two years since the 2024 RE-INVEST Summit. Investment opportunities are projected to top ₹20 lakh crore, or $220 billion, by the end of this decade.

He credited a decade of steady domestic investment and systemic reforms for cushioning India against severe external shocks, and invited foreign capital to ride the country's demand, scale and policy stability. India's clean-energy innovations, he added, are meant to be shared with the rest of the world.

Modi's headline pledge: add 500 gigawatts of new non-fossil fuel capacity over the next 10 to 11 years. He called the target somewhat difficult but backed the country to pull it off.

Minister for New & Renewable Energy Pralhad Joshi stacked up the progress so far. India's non-fossil power capacity has climbed to 310 GW, up from more than 200 GW in September 2024 — a 110 GW jump and over 50 per cent growth in two years, he said.

India also notched the lowest green hydrogen price at ₹279, with green ammonia at ₹49.75 a kg, Joshi said. Indian companies have signed the world's largest green hydrogen offtake commitments, exceeding 5.5 lakh mtpa, including 18 agreements this year alone to supply more than 4 lakh mtpa.