At the NDTV World Summit, Mittal told reporters that India’s fuel imports total roughly $200 billion a year, with about 80 % of the nation’s energy coming from abroad. He urged lawmakers to slash those imports and raise the share of electricity in the energy mix from less than 20 % to 40 % within the next decade.
The $200 billion figure feeds into a current‑account deficit that hovers near 4 % of GDP, according to the Ministry of Finance. This deficit has forced the government to borrow heavily, tightening fiscal space for infrastructure spending.
Mittal highlighted that clean‑fuel technology already exists: the Indian Institute of Science has developed engines that run on green methanol, and companies like Ashok Leyland now produce trucks powered by the same fuel. He added that the technology has been shared with vehicle manufacturers across the country.
He called on districts to build their own solar and storage assets, citing the ‘One Sun, One World, One Grid’ vision that could enable 802 districts to supply power locally. States such as Rajasthan, Gujarat and Tamil Nadu could combine solar and wind with battery packs to offer round‑the‑clock supply.
The chairman also noted that AI can schedule power supply in 15‑minute intervals, a practice already adopted by green‑energy firms to balance load and generation. He said the Ministry of Finance will likely announce incentives for renewable generation in its July budget, setting the stage for a 40 % electrification target.