Indian Prime Minister Narendra Modi has urged global investors to consider investing in India’s rapidly growing renewable energy sector, describing it as a “gold mine” of opportunities. Speaking at a virtual conference on green energy, Modi emphasized the potential of India’s vast renewable energy resources and the country’s ambitious target of achieving 450 GW of renewable energy capacity by 2030.
“India’s potential in green energy is no less than a gold mine,” said Modi. “The country’s leadership in solar power is setting new benchmarks, and our wind energy sector is progressing swiftly. We are committed to achieving our target of 450 GW of renewable energy capacity by 2030 and invite investors from all over the world to come and invest in India’s green future.”
Modi highlighted the significant strides made by India in the renewable energy sector over the past few years, including the establishment of the International Solar Alliance, the launch of the KUSUM scheme to promote solar farming, and the adoption of a national wind-solar hybrid policy. He also spoke about the government’s focus on innovation and research and development to drive sustainable growth in the sector.
The Prime Minister’s call for investment comes at a time when India is seeing a surge in renewable energy investments, with several domestic and international companies announcing plans to invest in the sector. India is the world’s third-largest emitter of greenhouse gases, and the government’s ambitious renewable energy targets are seen as critical to meeting its commitments under the Paris climate agreement.
“India is committed to ensuring that the growth of our economy goes hand in hand with environmental sustainability,” said Modi. “We have set ambitious targets for ourselves, and we are determined to achieve them. I invite investors from all over the world to come and join us in this journey.”