Potential Of India's Green Energy Sector Is No Less Than A Gold Mine Or Oilfield: PM Modi

In the first of a series of 12 post-budget webinars organised by the government, Prime Minister Narendra Modi addressed the post-budget webinar on ‘Green Growth’ today (23 February).

Addressing the gathering, PM Modi outlined three pillars for green growth and energy transition namely increasing the production of renewable energy, reducing the use of fossil fuel and  rapidly moving towards a gas-based economy.

“This Budget will play a key role in establishing India as a lead player in the global green energy market. That is why, today, I invite every stakeholder of the energy world to invest in India”, the Prime Minister said.

The Prime Minister informed that India achieved the target of 40 per cent contributions from non-fossil fuels in the installed electricity capacity nine years before the target date.

He mentioned that India achieved the target of 10 per cent ethanol blending in petrol five months before time and emphasised that the nation strives to achieve 20 per cent ethanol blending in petrol by 2025-26 instead of 2030.

He observed the abundance of agri-waste in the country and urged the investors to not miss the opportunity of setting up ethanol plants in every corner of the country.

“The potential of solar, wind and biogas in India is no less than any gold mine or oil field for our private sector,” PM Modi remarked.