Indian Economy News

India Achieves 4,000% Solar Capacity Growth; Union Minister of Commerce and Industry, Mr. Piyush Goyal

Union Minister of Commerce and Industry, Mr. Piyush Goyal, highlighted India’s remarkable clean energy progress while addressing the 11th India Energy Storage Week (IESW) 2025 in New Delhi. He noted a 4,000% increase in India’s installed solar capacity over the past decade, with current renewable energy capacity reaching 227 gigawatts (GW). India, he stated, is likely the first G20 nation to have fulfilled its Nationally Determined Contributions (NDCs) under the Paris Agreement. Citing Palli village in Jammu and Kashmir as the country’s first carbon-neutral panchayat, he underlined the government’s commitment to sustainable development. Mr. Piyush Goyal showcased successful schemes like PM Surya Ghar Yojana, targeting rooftop solar in one crore households, and PM Kusum Yojana, which supports solar pump deployment in agriculture. India’s solar photovoltaic module and cell manufacturing capacities have surged nearly 38-fold and 21-fold, respectively, supported by the Production Linked Incentive (PLI) scheme.
He proposed a four-pronged strategy to make India energy-independent: fostering innovation, strengthening infrastructure, building supply chain resilience, and expanding the clean energy value chain. He underscored the Rs. 1,00,000 crore (US$ 11.67 billion) Research, Development and Innovation Fund approved by the Cabinet, which could match Rs. 6,00,000-7,00,000 crore (US$ 70-81 billion) research and development (R&D) investments in advanced economies. Emphasising the critical role of storage technologies, including batteries, pumped hydro, and solid-state systems, Mr. Piyush Goyal urged industry leaders to invest in next-generation solutions, battery swapping infrastructure, and recycling. With the target of achieving 500 GW of renewable capacity by 2030, he reaffirmed that energy storage will be central to ensuring round-the-clock clean power for a self-reliant and sustainable India.

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