Govt assures green energy sector of support under PLI scheme
Minister of State for New and Renewable Energy, Shripad Yesso Naik, held consultations with industry representatives to drive home the Centre's commitment to support the renewable energy sector through the production-linked incentive scheme and other initiatives that would have a positive impact on Indian manufacturing.
He assured industry associations of renewable energy of full support from MNRE in the meeting and said that the government was committed to accelerating the transition of India to a low-carbon economy. Need for close collaboration between the government and industry stakeholders on achieving the goals the country has set out in terms of renewables was brought out through the deliberations at the meeting.
Secretary, MNRE, Bhupinder Singh Bhalla also participated in the meeting and pledged the Ministry's continued commitment towards the growth and innovation of RE. Bhalla said that the government is working on creating an enabling environment where the sector grows and also leverages from new technologies.
Participants included representatives from the All-India Solar Industries Association and other key players in the renewable energy sector. This was a major push toward tightening the partnership between the government and the industry. The official statement at the end of the meeting outlined a shared goal of moving India up several points in the global renewable energy ranking system.
The PLI scheme is designed to incentivize domestic manufacturing, reduce import dependence, and promote the use of clean energy sources. By providing financial incentives to companies for achieving incremental production targets, this scheme hopes to raise production capacity and efficiency of renewable energy technologies in India.
These fall within the ambit of broader, medium-term climate goals, such as meeting 175 GW of renewable energy capacity by 2022 and increasing it to 450 GW by 2030. The proactive governmental approach in supporting policies and incentives for the renewable energy sector should be one of massive investments and innovations that would mean a lot toward sustainable economic growth and environmental preservation.