Amitabh Kant Backs Clean-Tech Push Amid Rising Israel-Iran-US Conflict

As tensions escalate in the ongoing Israel-US conflict with Iran, ex-Niti Aayog Chief Amitabh Kant called for strategic push to scale clean-tech manufacturing, rather than relying on imported fossil fuels, costing nearly $180 billion.

While describing solar as 'Indian', he called for a "strategic push to scale clean-tech manufacturing, secure and diversify critical mineral supplies and fast-track grid upgrades and energy storage."

"It is imperative for India to ensure that one dependency is not replaced by others as we move towards a cleaner and more resilient future," he said.

On the other hand, United States has approved a 30-day waiver for Russian oil purchases to India.

In a recent tweet, the US Treasury Secretary, Scott Bessent, said, "To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea."

Also Read: India Invokes Emergency Powers, Orders Refiners To Boost LPG Output

"India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of U.S. oil. This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage," he said.

This comes after tanker traffic through Strait of Hormuz plunged 90% as compared to last week. Meanwhile, several container vessels are waiting, diverting, or delaying transit via one of the world's most-critical chokepoints.

According to data compiled by energy intelligence firm Kpler, 37 vessels are attempting to exit the gulf but are unable to transit, and 16 still awaited clearance or instructions.

Meanwhile, the central administration on Thursday noted that India remains in a "very comfortable position" when it comes to energy security amid the West Asian conflict and disruptions in liquefied natural gas (LNG) supply from Qatar, a major supplier of the fuel to the country.

India's current stock of energy supplies is adequate, with stock being replenished on a daily basis, a government source told ANI.

There is no shortage of LPG or LNG. There is no shortage of crude oil in the world. India is in touch with other suppliers as well," the source were quoted as saying.

Australia and Canada have also offered to sell gas to India, they said, adding that India is looking for other alternative sources to purchase gas.