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Meeting 2030 target may push India's solar imports to $30 bn per yr: GTRI

Business Standard LogoBusiness Standard15h ago

Meeting 2030 target may push India's solar imports to $30 bn per yr: GTRI - Business Standard

Quick Summary:

To meet the government's target of installing 500 GW of renewable energy by 2030, India needs to significantly ramp up installations to 65-70 GW each year, with over 80 per cent of this target expected to come from solar power, according to the Global Trade Research Initiative (GTRI).

The country's target of installing 500 GW of renewable energy by 2030 may push solar equipment import bill to about USD 30 billion per year and increase dependence on Chinese goods, think tank GTRI said in a report on Sunday.

It said developing a self-reliant solar manufacturing industry in India will require significant investment to create an integrated supply chain, especially in areas like polysilicon and wafer production.

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Category: BusinessFinance

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Published On: 2024-10-20 @ 14:25:30 (15 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 987 words

Reading Time: 6 minutes read

Sentences: 29 lines

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Copyright Owner: © Business Standard

News ID: 23133329

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