Indian Economy News

India has the potential to grow into a global supplier of renewable energy equipment: Mr. Piyush Goyal

According to Mr. Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, India has the potential to become a major provider of equipment for renewable energy sources. At the third Confederation of Indian Industry Renewable Energy Conference, he was speaking at the session with the theme "making India a worldwide industrial hub in renewable energy manufacturing."

Atmanirbharta in renewable energy, according to him, is crucial to both the economic and national security of India. He urged India to aim to accomplish the objective of sustainable power for everyone after achieving power for all. In order for India to lead the globe rather than remain reliant on other nations, he emphasised the importance of maintaining the complete renewable energy supply chain in India to the best of our abilities, starting with the equipment stage and moving up to innovation and new technologies. He stated that now is a fantastic opportunity to safeguard and support this industry in order for India to develop into a global provider of renewable energy.

He highlighted his belief that India had the ability to develop into a reliable supplier of renewable energy machinery for other nations looking to include dependable partners in their international value chains. He continued by saying that India is now viewed as a reliable partner who will not fail its partners despite the most trying of situations due to its upholding of the rule of law, strong emphasis on transparency, and stable and predictable policy environment.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.