NEW DELHI, Feb 23: Prime Minister Narendra Modi on Thursday invited global investments in the green energy sector stressing India’s potential in renewable energy like wind, solar and biogas is no less than a “goldmine or oil field”.
Addressing a webinar on various announcements made in the Union Budget 2023-24 on green growth, Modi said, “This budget is not only an opportunity, but it also contains the guarantee of our future security.”
He said India has been the fastest in renewable energy capacity addition among major economies since 2014.
“India will play an important role in green energy, I invite all stakeholders to invest in India,” he said.
On the great opportunities for investors in India, he stated that “the potential of solar, wind and biogas in India is no less than any gold mine or oil field for our private sector”.
He opined that India has huge potential to lead the world in green energy and the country will forward the cause of global good apart from generating green Jobs.
Modi addressed the post-budget webinar on ‘Green Growth’ on Thursday, which is the first of a series of 12 post-budget webinars, organized by the government to seek ideas and suggestions for the effective implementation of the initiatives announced in the Union Budget 2023.
He stated that all the budgets tabled in the country after 2014, have been forwarding new-age reforms apart from finding solutions to the challenges faced in the present day.
The Prime Minister outlined three pillars for green growth and energy transmission.
First, increasing the production of renewable energy; second, reducing the use of fossil fuel in the economy; and finally, rapidly moving towards a gas-based economy in the country.
He highlighted measures like ethanol blending, PM KUSUM Yojana, incentives for solar manufacturing, rooftop solar scheme, coal gasification, and battery storage in the Budgets of the past few years.
Underlining the significant announcements in previous years’ budgets, Modi highlighted schemes such as green credit for industries, PM Pranam Yojna for farmers, Gobardhan Yojna for villages, vehicle scrapping policy for cities, Green Hydrogen and wetland conservation in this year’s budget.
Referring to the global efforts for diversification of the energy supply chain, the Prime Minister said that this Budget has given a great opportunity to every green energy investor to invest in India.
This will also be very useful for the startups in the sector, he added. (PTI)
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