Huge opportunity for India to become world supplier to renewable energy industry: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Monday said there is a huge opportunity for the country to drive the growth of the renewable energy industry and become a global supplier. He said that energy security is the next important area which will provide economic opportunities for the renewable energy sector.

“We have tremendous potential to make a big difference in the future of India and the world, both in sustainability and self-reliance on energy. “This is a great opportunity to nurture the renewable energy industry and become a global supplier,” Goyal said while addressing the CII conclave. India A global center in renewable energy.

The Minister also emphasized on using technology in a big way and training MSMEs (Micro, Small and Medium Enterprises) to become quality suppliers of goods and services in this sector. He said the Indian economy is a “bright star” in an otherwise hopeless situation globally.

Goyal said that India has the potential to grow as a global supplier of renewable energy equipment. He also emphasized that the entire renewable energy supply chain in India needs to be maintained “to the best of our ability”, from equipment level to innovation and new technology, so that “we can lead the world rather than lead”. “Depending on other countries”.

The minister said that India was dependent on imports of machinery and equipment in both renewable energy and conventional energy sectors and fuels such as oil and coal, which continues to this day. He said the prices of these products are subject to geopolitical uncertainties.

Goyal urged the Indian industry to draw from international collaborations and learnings and make India ‘self-reliant’ in renewable energy and reap the twin benefits of sustainability and energy security.

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