India's delayed but significant update to its climate commitments under the Paris Agreement has finally arrived. A section of the agreement, which requires all countries except the United States to revise their targets every five years since 2020, saw India and Argentina as the only G-20 nations without updated Nationally Determined Contributions (NDCs) for 2035 until recently. India’s Environment Minister had pledged at COP30 in November 2025 to finalize the update by year-end, which was achieved before the end of Financial Year 2025-26. The latest NDCs commit India to achieving 60% non-fossil energy capacity by 2035, reducing emissions intensity by 47% compared to GDP, and establishing a carbon sink between 3.5 and 4 billion tonnes of CO2. This surpasses India’s 2020 targets of 50% non-fossil capacity, 45% emissions intensity reduction, and a carbon sink of 2.5 to 3 billion tonnes. The European Union has set a 40%-49% emissions reduction target below 2005 levels, while India, as a developing nation, avoids annual emissions cuts. Instead, it focuses on lowering carbon intensity per unit of energy and increasing non-fossil power generation. India also pledged net-zero by 2070 through expanding forest cover and adopting technologies like carbon capture, utilization, and storage. Officials assert that India’s 2035 goals are achievable, noting that the country already met its 2030 non-fossil target with 52% installed capacity. However, challenges persist. Only 25% of generated power is non-fossil due to inadequate battery storage, which limits the ability to harness solar and wind energy fully. The Power Ministry’s National Generation Adequacy Plan projects 70% of India’s 1,121 GW installed capacity by 2035-36 to come from non-fossil sources.#india #eu #environment_minister #cop30 #paris_agreement
Indian Markets Likely to Open Positive Amid Global Gains and Regional Tensions Indian equity markets are expected to open on a positive note on Wednesday, driven by gains in global markets. Traders are likely to adopt a cautious wait-and-watch approach ahead of the US Federal Reserve’s policy decision later in the day. However, some uncertainty may persist due to ongoing foreign investor outflows and the escalating Iran-Israel-US conflict. Key factors influencing the market include discussions between India and the European Union on energy security amid the West Asia crisis. External Affairs Minister S Jaishankar addressed these concerns during high-level talks in Brussels with EU member states. The Reserve Bank of India (RBI) also injected Rs 48,014 crore into the banking system through a seven-day variable rate repo (VRR) auction, providing temporary liquidity. Finance Minister Nirmala Sitharaman announced plans to ramp up domestic LPG production to ensure uninterrupted cooking gas supply to households during the ongoing crisis. Meanwhile, the Ministry of Electronics and IT (MeitY) projected that India’s digital economy will account for 20% of the country’s GDP by 2030, growing at twice the rate of the broader economy. The sugar sector remains under close scrutiny, with industry body ISMA reporting India’s sugar production at 26.21 million tonnes for the 2025-26 marketing year, a 10.5% increase from the previous year. Globally, US markets closed higher on Tuesday as oil prices rebounded amid the Iran conflict, with investors focusing on the Fed’s upcoming decision. Asian markets followed Wall Street’s positive trend, trading mostly in the green. Domestically, Indian equity benchmarks ended higher for the second consecutive day on Tuesday, with the BSE Sensex rising 0.75% to 76,070.#india #reserve_bank_of_india #s_jaishankar #eu #us_federal_reserve
West Asia tension: India reviews situation with Russia, EU India’s external affairs minister, S Jaishankar, engaged in diplomatic discussions with Russia’s foreign minister, Sergey Lavrov, and the European Union’s foreign policy chief, Kaja Kallas, amid escalating tensions in West Asia. The talks, held via teleconference, focused on assessing the conflict’s impact and coordinating efforts to de-escalate the situation. Jaishankar emphasized the importance of bilateral cooperation and shared India’s perspectives on diplomatic initiatives aimed at resolving the crisis. A Russian readout of the conversation highlighted the ministers’ agreement on accelerating the normalization of the Iran situation and supporting the role of the Shanghai Cooperation Organisation (SCO) and the BRICS nations in fostering a sustainable resolution. The discussions underscored the need to balance the legitimate interests of all parties involved, with a focus on creating conditions for peace. Jaishankar also addressed India’s broader strategic partnerships, reaffirming commitments to regional stability. Meanwhile, Prime Minister Narendra Modi reiterated assurances about the safety of Indian citizens in the region, criticizing opposition leaders for stoking fear and panic over the conflict. Modi’s remarks came amid growing concerns about the potential impact of the war on India’s energy security, particularly regarding the Strait of Hormuz, a critical chokepoint for global oil supplies. India’s diplomatic engagement with Russia and the EU reflects its strategic balancing act in the region. The country has been actively involved in mediating talks between Iran and its neighbors, leveraging its ties with both Moscow and Brussels.#india #russia #s_jaishankar #eu #kaja_kallas
