New and Renewable Energy Minister Pralhad Joshi has said that India’s energy transition is driving industrialisation, job creation and global competitiveness, offering a model for emerging economies.
Addressing a high-level session on Energy: The Great Funding Gap atthe World Economic Forum in Davos, the Minister said that under the leadership of Prime Minister Narendra Modi, India has transformed clean energy into a people-centric development movement, while strengthening energy security and reducing power costs.
Mr Joshi said India has achieved 267 gigawatts of non-fossil fuel capacity, with renewables accounting for about 52 per cent of total installed power capacity. He highlighted schemes such as PM Surya Ghar Muft Bijli Yojana and PM-KUSUM, which are turning consumers into prosumers and boosting rural incomes.
The Minister said falling renewable energy costs are helping reduce electricity tariffs for industry and households. He also highlighted India’s rapid expansion of domestic clean energy manufacturing, including solar modules, cells, storage and wind power, generating large-scale employment.
On the sidelines of WEF, Mr Joshi held bilateral meetings with ministers and global industry leaders to advance clean energy investments, technology collaboration and international partnerships.
