India’s green energy potential no less than a goldmine, says PM | India News


NEW DELHI: Seeking to ensure green energy growth of India, Prime Minister Narendra Modi on Thursday invited stakeholders from across the globe to invest in renewable energy and related sectors, and said the potential of solar, wind and biogas in India is no less than any goldmine or oil field for the private sector.
“The Budget (2023-24) will play a key role in establishing India as a lead player in the global green energy market. That is why, today, I invite every stakeholder of the energy world to invest in India”, said Modi while noting that India’s commanding position in renewable energy space will ensure a commensurate change in the world.
He was addressing the first of a series of 12 post-budget webinars organised by the government to seek ideas and suggestions for the effective implementation of the initiatives announced in the Union budget.
Asserting that the increase in production of renewable energy; reducing the use of fossil fuel in the economy; and rapidly moving towards a gas-based economy in the country are “three pillars for green growth and energy transmission”, he flagged various provisions of the budget that will help stakeholders including starts-up and MSMEs tap the potential in various fields ranging from waste to energy, green hydrogen, energy storage and gas-based economic activities to the multi-crore vehicle scrapping sector.
“This budget is not only an opportunity, but it also contains the guarantee of our future security”, PM said as he urged stakeholders to act quickly to implement all its provisions.
Referring to the launch of E20 fuel, PM noted the government’s emphasis on biofuels and said that it has brought new opportunities for investors. He observed the abundance of agri-waste in the country and urged the investors to not miss the opportunity of setting up ethanol plants in every corner of the country.
On the National Green Hydrogen MissionPM said India is moving with a target of production of 5 MMT green hydrogen. He said allocation of Rs 19,000 crore has been made to incentivise private sector in this field.


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