India's Renewable Energy Sector Offers Significant Investment Opportunities: PM Modi
Date
9/17/2024 2:22:29 PM
(MENAFN- KNN India)
New Delhi, Sep 17 (KNN) Prime Minister Narendra Modi on Monday highlighted India's rapid strides in the renewable energy sector, offering substantial investment potential not only in energy generation but also in manufacturing.
Speaking at the Global Renewable Energy Investors Meet and Expo, organised by the Ministry of New and Renewable Energy and the Confederation of Indian industry (CII), Modi emphasised the country's focus on 'Made in India' solutions, assuring investors of expansive growth and promising returns.
"India is striving for complete 'Made in India' solutions, creating countless possibilities. It truly guarantees expansion and better returns," Modi said, referring to the government's active push for domestic manufacturing in the renewable energy space.
India's rising demand for renewable energy has spurred the government to implement new policies to support sectoral growth.
The prime minister noted that the country's expansion in this segment presents a valuable opportunity for investors, particularly as the government strengthens the 'Make in India' initiative in renewable energy.
“There is no better place than India for investment and innovation in the renewable energy sector,” Modi stated, emphasising the nation's commitment to green energy, despite having the option to opt out of global commitments as a developing economy.
He further underscored that India's long-term energy strategy is built not just for immediate success but for sustainability over the next millennium.
The country is acutely aware of its energy needs and is preparing to meet its goals of becoming a developed nation by 2047.
India's future, he added, will rely heavily on renewable energy sources like solar, wind, nuclear, and hydro, as the nation lacks substantial reserves of oil and gas.
(KNN Bureau)
MENAFN17092024000155011030ID1108684252
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.