India has potential to become global supplier of green energy equipment: Goyal

Union Minister of Commerce and Industry Piyush Goyal said that India has the potential to grow into a global supplier of renewable energy equipmentHe made the remarks while addressing a session themed Making India a global manufacturing hub in renewable energy manufacturing at the 3rd edition of the Confederation of Indian Industrys CII renewable energy conference his ministry said in a statement on Monday eveningMinister Goyal noted that atmanirbharta or selfreliance in renewable energy is integral to Indias economic and national securityHe said that having achieved power for all India must now aspire to achieve the goal of sustainable power for all adding that there is a need to maintain the entire renewable energy supply chain in India to the best of our ability right from the equipment stage up to innovation and new technology so that the country can lead the world rather than being dependent on other countries the statement saidHe added that this is a great time to protect and nurture this industry so that India may also grow into a world supplier in the renewable energy sectorHe pointed out that India had been dependent on imports of machinery and equipment in both the renewable energy and conventional energy sectors and the imports of fuels like oil and coal which continues to the day He said that the prices of these products were subject to geopolitical uncertaintiesAlso Read NIA conducts raids to dismantle nexus between terrorists and drug smugglersThe Minister emphasized that the pandemic and conflict had taught us that ultimately we would have to be selfsufficient in the sources of equipment and machinery for the energy sector and said that due to the supply chain disruptions caused by Covid many renewable energy projects had suffered setbacks He urged the Indian industry to draw from international collaborations and learnings and make India atmanirbhar in renewable energy and achieve twin advantages of sustainability and energy securityFor the record at the COP26 summit in Glasgow in late 2021 Indian Prime Minister Narendra Modi committed to an ambitious fivepart Panchamrit pledge including reaching 500 GW of nonfossil electricity capacity to generate half of all energy requirements from renewables to reduce emissions by 1 billion tons by 2030India also aims to reduce the emissions intensity of GDP by 45 per cent Finally India commits to netzero emissions by 2070This story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever