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India commits €3.34 billion to state oil companies’ energy transition  

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Meenal Datar

Membership specialist

India has announced it will provide 300 billion Indian rupees (€3.34 billion) to help state-run oil refiners move towards cleaner energy, a step aimed at helping the country achieve its 2070 net-zero carbon emission target. 

In the budget, India has also allocated 50 billion rupees (€557 million) for crude purchases for its strategic oil stockpile. 

‘We are implementing many programmes for green fuel, green energy, green farming, green mobility, green buildings, and green equipment, and policies for efficient use of energy across various economic sectors,’ finance minister Nirmala Sitharaman says. 

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