Page 45 - Policy & Economic Report - June 2025

POLICY AND ECONOMIC REPORT
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component of our renewable energy strategy but it is at the heart of it and at the centre of Atma Nirbhar
Bharat,” said the minister.

Underlining the vision of Hon. Prime Minister Shri Narendra Modi, Shri Joshi said, “Hon. PM Shri Narendra
Modi gave us a vision to have ‘renewable energy for manufacturing and conventional energy for
household consumption’.”

India’s manufacturing capacity is increasing and it will continue to increase. In view of this, Hon. PM’s
vision stresses upon the importance of renewable energy production, storage and usage, so that once
India becomes a global manufacturing hub in near future, it should be able to fulfill the energy demands
of the manufacturing sector through renewable energy sources, said the minister.

India has the huge potential in the renewable energy sector as it has globally the fourth largest wind
power installed capacity and it is third largest renewable energy producer. “No one had thought that India
would become the third largest manufacturer of renewable energy in 10 years, but today it is a reality,
said the minister.

The minister underlined the 3 key issues for the Wind Energy sector saying:

“First, we must combine wind with solar and storage (BESS) to deliver round-the-clock power and grid
stability.

Second, tariffs must be competitive. A rate of ?3.90 per unit is too high; we must work together to reduce
costs.

Third, domestic manufacturing must become more efficient, not just to meet our own targets, but to
boost exports.”

Underlining the dedicated efforts from GoI to unleash the potential of renewable energy sector, Shri Joshi
said, “The Government is backing this sector with full seriousness. This year’s renewable energy budget
has gone up by 53%, to ?26,549 crore, with a large share directed to wind.”

“The transition to renewables is inevitable. States must lead this transition. Land availability and
transmission delays have to be overcome. This is not the time for hesitation, it is the time for execution,”
the minister added.

The Minister said, “I am happy to note that India is manufacturing wind turbines ranging from 225 kW to
5.2 MW, with 33 models being produced by 14 companies. These turbines meet our domestic needs and
are also cost-competitive globally.”

The Minister further added that to fully unlock national wind potential, we need a coordinated national
push. That is why we are focusing on 5 priorities:

i. Expanding into new states like Madhya Pradesh, Telangana, and Odisha.

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