Page 22 - Policy Economic Report - November 2024

POLICY AND ECONOMIC REPORT
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environmental sustainability. Solar energy was spotlighted as a cost-effective and adaptable renewable
energy source, crucial for breaking the link between economic development and carbon emissions.

Shri Kirti Vardhan Singh, Minister of State for Environment, Forest & Climate Change in India,
underscored the pivotal moment facing the global energy landscape. He articulated the pressing need
for a swift transition to renewable energy resources to confront the escalating threats posed by climate
change and to ensure a stable and secure energy future. The session called for a 20x increase in solar
adoption by 2050, aiming to meet over 75% of the world's grid energy needs.

10. FDI equity inflows jump 43% in July-Sept quarter

• Foreign direct investment (FDI) equity inflows to India jumped 43% to $13.61 billion in the July-
September quarter of 2024-25 compared to $9.54 billion in the same period last year.

• Singapore, United Arab Emirates and Mauritius accounted for nearly 64% of the FDI equity inflow
during the second quarter. Singapore led foreign equity contributions with an inflow of $7.53 billion,
followed by Mauritius ($5.24 billion), Netherlands ($3.58 billion), UAE ($3.47 billion) and the United
States ($2.57 billion).

• Maharashtra, Gujarat, Delhi, and Karnataka received over 82% of the inflows in Q2 of 2024-25.

• Most investments went to trading, services, computer software, IT hardware and power sectors, which
accounted for nearly 49% of the FDI equity inflow in the quarter.

• While Q2 saw a significant year-on-year increase, the inflow was lower than the Q1 figure of $16.18
billion, according to the data published from Ministry of Commerce.

• Further, FDI equity inflow in the first six months of current fiscal year has already crossed the two-third
mark of full financial year of 2023-24 ($44.42 billion), hence total inflow could see a significant jump
when this financial year ends on March 31, 2025.

11. India’s renewable capacity reaches 203 GW, solar grows 28%: MNRE

• According to the Central Electricity Authority, the total renewable energy-based electricity generation
capacity now stands at 203.18 GW. This achievement underscores India's growing commitment to
clean energy and its progress in building a greener future.

• India's total renewable energy installed capacity surged by an impressive 24.2 GW (13.5%) in just one
year, reaching 203.18 GW (46.3% of the country’s total installed capacity) in October 2024, up from
178.98 GW in October 2023. Additionally, when including nuclear energy, India's total non-fossil fuel
capacity rose to 211.36 GW in 2024, compared to 186.46 GW in 2023.

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