Global conflicts create uncertainty for economies, energy: Pralhad Joshi

Union Minister Pralhad Joshi stated that ongoing global conflicts are creating economic and energy security uncertainty. He stressed the need for dialogue, a gradual transition to renewables, and a focus on long-term sustainable development.

The ongoing conflicts around the world are creating uncertainty for economies and energy security, and call for dialogue on a sustainable future, Union Minister Pralhad Joshi said on Thursday.

"In the entire world, there is a kind of turmoil... there is so much war going on, and it is affecting economies and energy security," he said while addressing Bharat Electricity Summit 2026.

Joshi said the current global environment has led to widespread concern among people about the future. "People are thinking what will be the future... people are bothered, people are tensed," he said, highlighting the impact of conflicts on both economies and public sentiment.

He stressed that beyond immediate concerns, countries must focus on safeguarding long-term interests. "Not only tensed... our own future should be protected," he said, pointing to the need for resilience in policy and planning.

Global Tensions and Energy Imbalances

Referring to the broader global situation, Joshi said geopolitical tensions across regions are contributing to instability. He cited countries such as Iran, Russia, China and Taiwan as examples where tensions are impacting global dynamics.

He also drew attention to structural imbalances in energy resources. "Where there is oil, there itself there is no gas... where there is ample gas, there are problems," he said, underscoring challenges in global energy distribution and infrastructure.

Transition to Renewable Energy

At the same time, Joshi emphasised that the transition towards renewable energy is essential but will take time. "The moment you decide renewable, it will take some time," he said, noting that conventional and renewable sources must coexist during the transition period.

He highlighted progress in renewable energy, referring to multiple capacity additions across segments, while cautioning that conventional energy systems cannot be abruptly discontinued.

India's Sustainable Development Pathway

Linking sustainability with broader cultural and national context, he extended greetings on Gudi Padwa, describing it as a symbol of renewal and new beginnings, and said the concept aligns with the shift towards renewable energy.

Joshi also expressed confidence in India's long-term growth, stating that the 21st century is expected to belong to the country, provided it follows a sustainable development pathway guided by the vision of Narendra Modi.

Call for Dialogue and Collective Action

He underlined the importance of coordination among ministries, experts and stakeholders in navigating global uncertainties and ensuring a smooth energy transition.

The minister also acknowledged the role of leadership and officials, including Power Minister Manohar Lal Khattar, in advancing discussions on the power sector.

Emphasising cooperation, Joshi said dialogue remains key in addressing global challenges. "When tensions arise in the world, we should sit together and talk about a sustainable future," he said.

The minister said that with ongoing conflicts shaping global markets and energy systems, countries must work collectively to ensure stability, strengthen energy security and build a resilient and sustainable future. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)