Indian Economy News

Prime Minister Mr. Narendra Modi inaugurates Bharat Renewable Energy Summit & Expo 2026

Prime Minister Mr. Narendra Modi inaugurated the Bharat Renewable Energy Summit and Expo 2026 at Bharat Mandapam, New Delhi, on November 2, 2026. The summit coincides with the Ninth Assembly of the International Solar Alliance (ISA) and the Fourth Conference on Green Hydrogen. India fulfilled its Paris pledge of sourcing half its installed power capacity from non-fossil sources in 2025, five years ahead of schedule. It has also achieved nearly 300 gigawatts (GW) of its 500 GW target for 2030. Prime Minister Mr. Narendra Modi announced a goal to add another 500 GW of non-fossil capacity over the next 10 to 11 years.

The renewable energy sector has attracted over Rs. 15 lakh crore (US$ 164 billion) over the past decade, including over Rs. 6 lakh crore (US$ 63 billion) since the 2024 RE-INVEST Summit. Investment opportunities are projected to exceed Rs. 20 lakh crore (US$ 220 billion) by the end of the decade. Under the PM Surya Ghar Muft Bijli Yojana, over 65 lakh households have adopted rooftop solar within about two years. In addition, over 44,000 government buildings connected to solar energy are saving nearly Rs. 700 crore (US$ 73.91 million) annually. Solar module manufacturing capacity has grown from around two GW a decade ago to over 200 GW, alongside nearly 40 GW of solar cell capacity. India has also set a target of investing about Rs. 2 lakh crore (US$ 21.12 billion) to strengthen transmission infrastructure through Green Energy Corridors. A Rs. 1,894.17 crore (US$ 200 million) Africa Solar Facility has also been proposed.

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