India's Rapid Renewable Energy Growth Poised to Boost Economy

Union Minister Pralhad Joshi highlighted the rapid growth of India's renewable energy sector at the BNEF Summit, emphasizing its potential to bolster the Indian economy. He noted the role of cost-effective solar power, large-scale grid storage projects, and specific policy measures to expand renewable capacity and promote green hydrogen production.

Union Minister Pralhad Joshi spoke at the BNEF Summit, emphasizing the swift expansion of India's renewable energy sector and its potential to boost the national economy.

Joshi highlighted the competitive nature of India's renewable industry, noting that solar power in India is among the cheapest globally due to favorable conditions like ample sunny days.

Key initiatives discussed included policies for pumped storage projects, a production-linked incentive scheme for solar PV modules, substantial increases in renewable capacity, and ambitious targets for green hydrogen production.

(With inputs from agencies.)