Commerce and industry minister Piyush Goyal on Monday said there is a huge opportunity for the country in pushing the growth of the renewable energy industry and become a global supplier. He said that energy security is the next thrust area which will provide economic opportunity for the renewable energy sector.
“We have tremendous potential to make a big difference to India’s and the world’s future, both on sustainability and self-reliance on energy. “It is a great opportunity to nurture the renewable energy industry and grow into becoming a world supplier,” Goyal said while addressing a CII’s conference on making India a global hub in renewable energy.
The minister also pitched for using technology in a bigger way, and training MSMEs (Micro, Small and Medium Enterprises) to become quality suppliers of goods and services in the sector. The Indian economy is a “bright star” in an otherwise gloomy situation globally, he added.
Goyal said that India has the potential to grow into a global supplier of renewable energy equipment. He also stressed that there is a need to maintain the entire renewable energy supply chain in India “to the best of our ability”, right from the equipment stage up to innovation and new technology, so that “we can lead the world rather than being dependent on other countries”.
The minister said that India had been dependent on imports of machinery and equipment in both the renewable energy and conventional energy sectors and the imports of fuels like oil and coal, which continues to the day. He said that the prices of these products were subject to geopolitical uncertainties.
Goyal urged Indian industry to draw from international collaborations and learnings and make India ‘atmanirbhar’ in renewable energy and achieve twin advantages of sustainability and energy security.
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