Renewable Energy Industry in India

India had a fully renewable energy capacity of 168.9 GW, including 67.82 GW of solar power and 43.20 of wind power (as of May 30, 2023).

Advantage India

Robust
Demand

*In June 2021, Prime Minister Mr. Narendra Modi stated that renewable energy capacity in India increased by 250% between 2014 and 2021.

*The Central Electricity Authority estimates India’s power requirement to grow to reach 817 GW by 2030. Most of the demand will come from real estate and transport sectors.

Increasing
Investments

*Non-conventional energy sector received FDI inflow of US$ 14.12 billion between April 2000-March 2023.

*Rising foreign investment in the renewable sector (such as the US$ 75 billion investment from the UAE) is expected to promote further investments in the country.

*According to the International Energy Agency (IEA), India's installed renewable energy capacity will reach 174 GW in 2023, accounting for about 37% of the country's total energy supply. The report indicates that India has exceeded its target of installing 175 GW of renewable energy capacity by 2022, with a projected capacity of 280 GW by 2025.

Policy
Support

*In the Union Budget 2022-23, the government allocated Rs. 19,500 crore (US$ 2.57 billion) for a PLI scheme to boost manufacturing of high-efficiency solar modules.

*India launched the Mission Innovation CleanTech Exchange, a global initiative that will help accelerate clean energy innovation.

Competitive
Advantage

*Globally, India ranks fourth in renewable energy capacity and wind power and fifth in solar power capacity.

*In October 2021, India retained its third rank on the EY Renewable Energy Country Attractive Index 2021.

Last updated: Nov, 2023

IBEF Campaigns

MORE
Gulfood Dubai 2023

Gulfood Dubai 2023

APEDA India Pavilion Gulfood February 20th-26th, 2022 | World Trade Centre,...

India Organic Biofach 2022

India Organic Biofach 2022

Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nuremberg, ...

Case Studies

MORE

Electric Vehicles Driving Sustainable Mobility In India

Electric Vehicles Driving Sustainable Mobility In India

Sustainable mobility (electric mobility) contributes to a significant role in the economic development of a nation and supports the improvement of the...

The emergence of India as a Global startup hub

The emergence of India as a Global startup hub

In recent years, India has rapidly emerged as a global powerhouse in the startup ecosystem. With a vibrant entrepreneurial spirit, a massive pool of s...

Impact of 5G Technology on Indian Industries

Impact of 5G Technology on Indian Industries

A surge of disruptive opportunities has been sparked throughout the world as a result of the quick and broad adoption of 5G technology. India, one of ...

IBEF BLOG

MORE
The transformation of the Transportation and Logistics Industry
22 Nov 2023

The transformation of the Transportation and Logistics Industry

Logistics Industry is crucial to both enterprises and the economy. In ...

Lithium-ion battery (LIB) manufacturing industry in India
22 Nov 2023

Lithium-ion battery (LIB) manufacturing industry in India

Energy storage technologies are predicted to play a major part in the decar...

Digital Advertising in India
10 Nov 2023

Digital Advertising in India

With its developing economy, India provides advertisers with several opport...

Partners
Loading...