‘Renewable energy sector will power India’s growth’
‘Renewable energy sector will power India’s growth’
Key Points from the Article:
India's renewable energy sector and its significant role in the country's growth, as emphasized by Prime Minister Narendra Modi during the fourth Global Renewable Energy Investors Meet and Expo (RE-INVEST) in Gujarat.
- Prime Minister Modi highlighted that India is at the forefront of adopting renewable energy to combat climate change, including solar energy.
- India is the first G20 nation to achieve its Paris climate commitments, well ahead of the deadline.
- Modi outlined that India's renewable energy sector will be a critical factor in its rapid economic growth and plans to make the country the world's third-largest economy.
- He detailed several major initiatives for the future, including infrastructure projects such as industrial cities and corridors, high-speed trains, and a focus on expanding solar and wind energy infrastructure.
- The government is aiming to achieve 500 GW of renewable energy by 2030, turning the transition into a movement embraced by the people.
Short Analysis: The article underscores India's ambitious renewable energy goals as part of its broader economic strategy. By positioning itself as a leader in this sector, especially within the G20, India is working to balance its development needs with climate commitments. Modi's speech highlights the crucial role renewable energy will play in addressing both economic growth and climate challenges, illustrating a forward-looking approach in the country's policy making.
At investors' meet in Gujarat, PM Modi outlines major announcements of his govt. in first 100 days of third term; says that India is first G-20 country to reach the Paris climate goals ahead of time.
The Hindu Bureau
AHMEDABAD
Prime Minister Narendra Modi on Monday inaugurated the fourth Global Renewable Energy Investors Meet and Expo (RE-INVEST) in his home State of Gujarat, and said that India was at the forefront of harnessing renewable energy sources, including solar power, to fight climate change.
Speaking on the occasion, Mr. Modi said 140 crore Indians had pledged to make the country the world’s third largest economy, and the renewable energy sector would power the country’s rapid economic growth in the years to come.
Sustaining at the top
“India aims to not only reach the top but to sustain at the position,” Mr. Modi said, adding that the world believes India is the best place to invest. In the first 100 days of the third term, the government had taken multiple decisions to expand physical and social infrastructure.
Mr. Modi outlined some of the major announcements of his government this time, including the decisions to create 12 new industrial cities and eight high-speed road corridor projects; the launch of over 15 semi-high speed Vande Bharat trains; promoting the creation of a viability gap funding scheme for offshore wind energy projects to provide more than ₹7,000 crore was a big move to promote off-shore wind farms in the coastal States, he said.
India has been well aware of its energy commitments to make it a developed nation by 2047, and had decided to build its future on the usage of renewable energy sources, including solar and wind, instead of relying on traditionally polluting.
“India is the first G-20 nation to achieve the climate commitments set in Paris — nine years before the deadline,” Mr. Modi said in his inaugural address at the event, in the presence of several Chief Ministers and other functionaries, and delegates from around 40 countries.
Lauding State governments for developing solar and wind energy infrastructure, he emphasised the government’s target of achieving 500 GW of renewable energy by 2030, and said the government had “turned the green transition into a people’s movement.”
During his speech, the Bharatiya Janata Party (BJP) leader also recalled his re-election as Prime Minister for a third term, and added that the country’s aspirations were the reason for it.
Mr. Modi also stressed that the poor, Dalits, and backward classes were the greatest beneficiaries of the energy transition.
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