Union Budget 2025 Quote | Mr. Parag Sharma, CEO & Founder of O2 Power & President at WIPPA – EQ
0
0
The Union Budget for 2025-26 reaffirms India’s commitment to clean technology manufacturing with particular focus on building India’s own ecosystem for solar PV cells, EV batteries, electrolyzers, grid scale storage, and wind turbines. While we will need to wait for the details of this announcement, it is evident that the government wants to significantly reduce dependence on imports in the coming years and boost manufacturing of clean energy equipment. This measure now needs to be backed by action on ground as the share of renewable energy in our overall energy mix rises steadily. Further, a domestic ecosystem will help India accelerate capacity addition and ensure we first attain 500 GW by 2030 and then 1800 GW by 2047. Beyond these measures to boost renewable energy sector, we also need credible measures to address challenges such as land acquisition. A comprehensive approach that includes land reforms, grid security, and faster execution of power purchase agreements is imperative to accelerate India’s clean energy transition.
