India is rapidly positioning itself as a global electro-tech manufacturing hub by leveraging low-cost solar energy and battery technology, bypassing the fossil fuel-heavy growth model followed by Western economies and China, a report by the World Economic Forum said today. The World Economic Forum said India’s push for energy sovereignty could serve as a fast-track model for emerging economies, noting that solar accounts for about 9 per cent of electricity, coal use per capita is far lower than China’s at a similar stage, and oil demand remains modest and unlikely to rise significantly. The shift is visible in mobility, with passenger electric vehicles nearing 5 per cent of total sales, while electric three-wheelers account for nearly 60 per cent of the market, making India a global leader in the segment.

The report said that as India reaches about 1,500 kWh per capita electricity consumption, solar-plus-storage now costs roughly half as much as new coal, driving a manufacturing surge. India’s electronics sector has grown six-fold to 130 billion dollars, supporting expansion into solar panels, batteries and EVs, while solar module capacity has reached 120 Giga Watt and solar cell capacity 18 Giga Watt. The report said India is building integrated supply chains and is positioning itself to become a major global supplier of electro-tech products.