New Delhi, Nov. 5 -- India's expanding renewable energy capacity could help the country save nearly USD 240 billion in cumulative coal and natural gas import expenditure by 2030, strengthening energy security and reducing exposure to international fuel price volatility, according to the International Energy Agency (IEA).

The savings are expected to increase as solar and wind power displace imported fossil fuels, with annual savings projected to reach around USD 35 billion by 2030, exceeding India's actual non-coking coal and natural gas import bill in the financial year 2024-25.

In its 'India Renewable Energy Market Report 2026', the IEA said renewable electricity had already reduced cumulative spending on coal and natural gas imports b...