The complexities and uncertainties surrounding the energy transition were brought to the forefront by Finance Minister Nirmala Sitharaman on the opening day of the three-day Kautilya Economic Conclave 2023. FM, in her address, emphasised the challenges faced by India in its efforts to shift towards cleaner energy sources.

She noted that, to date, no clear answers had emerged to guide the country's transition to cleaner energy alternatives.

Sitharaman began her speech by stating, "Energy transition is complicated; we have no answers yet on the transition energy. Till today, no one is able to tell us which is that one energy source that can be used for a seamless transition." The Finance Minister's remarks underscored the lack of a singular, universally accepted solution for India's energy transition.

One of the key hurdles discussed was the price and supply difficulties that have clouded the prospects of natural gas as a prominent energy transition option. "Price and supply uncertainties have made natural gas take a backseat in the journey towards energy transition," Sitharaman remarked. The nation's dependence on natural gas as a clean energy solution has been challenged by these economic and supply issues.

India, a country heavily impacted by climate change and seeking to adopt cleaner energy sources, faces significant financial constraints. Sitharaman emphasised the financial limitations, stating, "we can’t afford big money for this transition. Natural gas is no longer the answer for India's energy transition."

The country is grappling with the absence of a clear energy source that can serve as the linchpin for its transition efforts.