Powering NDC 3.0: India's next-gen public finance reforms for the energy transition

India’s energy policies are undergoing an important shift. Driven by the triple imperatives of energy security, affordability, and sustainability, the Government of India is gradually using structural policy reforms to align public financial flows with its clean energy goals—and the results are beginning to show:

• Clean energy subsidies have led to a fivefold growth in renewable capacity since 2014.
• The non-fossil share of India’s electricity capacity crossed 50% in 2025—a key milestone under India’s updated nationally determined contribution (NDC) 2.0.

This shift toward renewables places India among a select group of countries that have achieved one of their NDC targets 5 years ahead of schedule.

Government support—or public financial flows—through subsidies, state-owned enterprises, and public financial institutions plays a decisive role in shaping the direction of India’s energy system. At the same time, the energy sector is a major source of revenue for both the central and state governments.  

In a new report, IISD examines India’s energy policies and the public financial flows that support and underpin them. This webinar provides a look at key findings from the report and explores the role budgets play in the clean energy transition.

Bringing together policy-makers, researchers, civil society, and industry leaders, this webinar examines

• the current scale of government support for energy in India, and how is it is divided between fossil and clean energy sources;
• policy, fiscal, and institutional reforms needed to steer subsidies, budgets, and public investments toward a more sustainable energy future; and
• pathways to maximize the social and economic benefits of the clean energy transition.

Agenda

Welcome
Saumya Jain, Policy Analyst, IISD

Setting the Context
Christopher Beaton, Director, Energy Program, Public Financial Flows, IISD

Keynote Remarks
Harsha Vardhana Singh, Former Deputy Director General, WTO

Presentation of Findings
Swasti Raizada, Senior Policy Advisor, IISD

Panel Discussion
Moderator: Shruti Sharma, Lead, Affordable Energy, India Lead, IISD
Vibhuti Garg, Director, South Asia, Institute for Energy Economics and Financial Analysis
Dipak Dasgupta, Distinguished Fellow, The Energy and Resources Institute
Neha Kumar, Head, South Asia, Climate Bonds Initiative
Raj Pratap Singh, State Election Commissioner of Uttar Pradesh, former Chairperson, Uttar Pradesh Electricity Regulatory Commission

Q&A

Closing Remarks
Christopher Beaton, Director, Energy Program, Public Financial Flows, IISD