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India: Increasing focus on solar energy and start-up incubators and accelerators

IBEF:  May 22, 2017

India is expected to become the third biggest solar market globally in 2017, with an 8.8 gigawatt (GW) of capacity addition projected for the year ahead, according to the recently released India Solar Handbook 2017 by Bridge to India (BTI). The report further said that solar capacity in the country is expected to touch 18.7 GW by the end of 2017, which will translate to around 5 per cent of global solar capacity. “Indian solar market has grown by an average 72 per cent in the last three years and is now worth approximately 8-9 GW per annum. Growing market size and strong government commitment to the sector have attracted the world’s leading private sector players as well as resulted in lower tariffs for consumers,” said Mr Vinay Rustagi, Managing Director, BTI.

In another important development, the number of incubators and accelerators in India have registered a growth of 40 per cent, with more than 40 new entrants in 2016, according to a new report by Nasscom, titled ‘Incubators/Accelerators (I/As) Driving the Growth of Indian Start-up Ecosystem–2017’. As incubators and accelerators continue to play an important role in the growth of the Indian start-up ecosystem, more than 30 new academic incubators have been established in 2016 with corporate accelerators growing by 35 per cent year-on-year with Bengaluru, NCR area and Mumbai being the leading hubs. 

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