US President Joe Biden nominates Ex-Mastercard CEO Ajay Banga to lead World Bank

Amitabh Kant, former CEO of NITI Aayog, says geopolitical tensions involving Iran underline the strategic need for India to accelerate its clean energy transition. With India importing nearly $240 billion worth of fossil fuels annually, rising crude prices significantly strain the economy, as every $10 increase adds about $15 billion to the import bill. He notes that expanding renewable energy can reduce this vulnerability. Erik Solheim, former Environment Minister of Norway, adds that India has the scale and resources to emerge as a global clean energy exporter by streamlining approvals, engaging communities, and expanding solar and wind capacity.