| | JULY 20234The third-largest consumer of oil in the world as of 2022, India's economic growth is highly influenced by its energy demand. Therefore, the demand for oil and gas is ever-increasing. While this makes the sector quite conducive for investment, it also points fingers at the dire need and scale of responsibilities toward climate. To concoct a green revolution in the country, the union government has set an ambitious target of producing 500 GW of renewable energy by 2030, which includes the installation of 280 GW of solar power and 140 GW of wind power. But for a population north of 140 crore, it's a mountain to climb.However, it is also an enormous opportunity for organizations in the sector, regardless of their size. According to the data released by the Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflows in India's petroleum and natural gas sector stood at US$ 7.98 billion between April 2000-March 2022. R K Singh, the Union Minister for Power, recently asserted that in 2023, investments in the renewable energy sector could total around $25 billion. He further explained that we currently have a capacity of 173 GW (including large hydro and nuclear power), while another 80 GW capacity is under construction is around 80 GW. This means the country looks forward to building another 250 GW by 2030, adding 25 GW of renewable energy capacity annually for the next eight years. This would cost investment of $16 billion--no wonder the industry is flooding with startups, and rightly so. Sujith VasudevanManaging Editoreditor@ceoinsightsindia.comRenewable Energy Sector Has a Foolproof Future EditorialVol 04 · Issue 5 - 1 · JULY, 2023 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan Senior Designer Girisha M Visualizers Asokan S. V. Vayshnavi P. D. NoidaRohit Raghubanshi Garima Anandadvertise@ceoinsightsindia.comEditorial queries editor@ceoinsightsindia.comAdvertising ManagersAbhay Katiyar To subscribeVisit https://www.ceoinsightsindia.com/subscribe/ or send emailto subscription@ceoinsightsindia.comMagazine Price is Rs. 150 per issuePublisher Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of Info Connect Web Technolo-gies India Pvt. Ltd., and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2023 Info Connect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.VP - Sales & Marketing Amrit SinghCirculation Manager Magendran Perumal Editorial Keerthana Kantharaj Tejaswini P Roopalatha H Hima P. M.
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