Hardeep Singh Puri highlights India's rise against backdrop of changing perceptions about China

Union oil minister, Hardeep Singh Puri, on Wednesday articulated his insights into India’s emerging global stature and evolving energy strategies, while reflecting on global economic and geopolitical shifts at the ET India Ascends event.

Speaking on various pressing topics, Puri underscored the transformation in global growth dynamics, highlighting India’s rise against a backdrop of changing perceptions about China.

Puri pointed out that, historically, much of the world's growth over the past few decades was heavily influenced by China. “The entire growth or 20 per cent of the growth in the last 2-3 decades has come from China, but that is plateauing now,” he noted. This shift signals new opportunities, with India now positioned as a central player in global economic development. “Today, the growth is coming from India,” Puri asserted, emphasizing the nation’s burgeoning economic potential.

India’s Energy Independence and Renewables
Addressing energy production, Puri highlighted the U.S. as a significant energy supplier, with current output at 13 million barrels of oil per day. He remarked, “With a Trump victory, you can be sure that’s gonna happen. More and more energy from the U.S. is going to come in the market.” This statement pointed to India’s strategy of diversifying its energy sources. “We will buy oil from wherever we can get,” Puri stated, signaling a pragmatic approach to energy security amid evolving geopolitical conditions.

Despite these traditional energy partnerships, Puri stressed that renewable energy remains integral to India’s future. “Trump 2.0 will not be negative for renewables,” he said, affirming that global policies, regardless of leadership changes, will not deter India’s push towards sustainable growth. Puri praised green hydrogen initiatives as a “very good success story in India,” indicating that conversations and developments in this area have gained significant momentum.

Geopolitical Relations: India and Global Partners
The minister also touched on India's relations with China and other key global players. His remarks underscored India’s focus on pragmatic and independent strategies. “We will buy from wherever we can get,” he reiterated, underlining the country’s commitment to energy security and strategic autonomy.

Addressing the evolving dynamics in Punjab, Puri reflected on domestic political recalibrations. “BJP got into a wrong marriage with Akali Dal in Punjab,” he said, alluding to changing alliances. However, he noted that “the rural countryside in Punjab is now receptive of BJP,” indicating a shift in local political sentiments.

On international relations, Puri emphasised caution in interpreting tensions, especially in the context of recent Khalistani actions in Canada. “Don’t let a few misguided elements paint an entire community,” he remarked. Regarding the broader India-Canada relationship, he stated, “There is nothing that I see from the other side,” signaling a neutral stance amid ongoing diplomatic discourse.

Outlook on India’s Global Role
Puri concluded by asserting India’s role as a crucial player in the global energy landscape, particularly in green energy. “I see India becoming a very important global player in terms of green energy,” he stated, reinforcing the vision of India as a leader in the renewable energy sector.

This comprehensive overview by Minister Puri illustrates a pivotal moment for India as it navigates its role in global growth, energy security, and international relations, firmly positioning itself amidst shifting geopolitical and economic landscapes.