India hits 50% nonfossil power capacity, seeks $300B for energy transition by 2030

India reached 50% nonfossil fuel installed power capacity in 2025. Still, the country needs about $300 billion in investments by 2030 to accelerate its energy transition and attract global investors, Minister for New and Renewable Energy Pralhad Joshi said Jan. 11.

Speaking at the International Renewable Energy Agency in Abu Dhabi, United Arab Emirates, Joshi highlighted that India's growing electricity demand and clean energy plan would require more efforts and funds. The Indian government has a 2070 net-zero target and aims to have 500 GW of nonfossil fuel capacity by 2030.

S&P Global Mobility’s scenario-based approach demonstrates how economies, the trucking industry, clean energy technology and the policy environment could develop. For 2026, governance and technology are the key factors.

Sukuk Market: Strong Growth To Continue

Global sukuk issuance increased to $264.8 billion in 2025 from $234.9 billion in 2024, driven by solid economic growth in core Islamic finance countries, high financing needs and supportive financing conditions due to globally declining interest rates. The figures are higher than S&P Global Ratings' historical figures as a broader measure of local currency-denominated sukuk issuance is now used. Foreign currency-denominated issuances exceeded $100 billion in 2025, almost double the volume in 2021. Issuance was concentrated in a few countries — particularly those in the Gulf Cooperation Council and in Malaysia — reflecting activity in the broader Islamic finance industry, but interest also came from nontraditional issuers.

In 2026, barring major volatility in the global capital markets or unexpected spikes in geopolitical risk, S&P Global Ratings expects issuance to continue increasing, driven by lower oil prices, strong economic performance in some core Islamic finance countries and supportive market conditions.