Clean energy investments helped absorb Middle East fallout - Modi

Clean energy investments helped absorb Middle East fallout - Modi

India’s renewables will offer about $220 billion in investment opportunities by 2030, the prime minister has said

India’s massive clean energy investments have acted as a shock absorber, helping the country limit the fallout from supply disruptions linked to the Middle East conflict, Indian Prime Minister Narendra Modi has said.
India’s clean energy capacity reached about 308 gigawatts (GW) by September, or about , five years ahead of schedule.
Pointing out that the Indian economy has continued to post robust growth despite the crisis, Modi said, Had India not made the investments it did in clean energy and building the requisite mechanisms [and infrastructure], the impact of the crisis would have been far more severe than in the rest of the world.
New Delhi imports the lion’s share of its energy, and the Middle East crisis impacted a number of key sectors, including manufacturing and agriculture. Despite this, the International Monetary Fund raised India’s GDP growth forecast to 7% for the financial year 2026-27, up from the 6.4% it had projected in July.


India’s renewable energy sector is poised to open up investment opportunities of about $220 billion by 2030, Modi said. Clean energy helped India save between 2011 and 2025, according to the International Energy Agency. That number is set to double by 2030.
Local manufacturing of hardware and battery systems and enhanced storage systems would form the cornerstone of the next phase of the solar push, which Modi has stated he believes will be driven by innovation.
The Indian government is building a Green Energy Corridor linking states with high renewable energy potential to centers of consumption, which is estimated to integrate 135 GW capacity into the national grid. Solar module and solar cell manufacturing,and solar rooftop installations are also seeing heavy growth.
India is among the world’s leading clean energy employers, with 1.3 million people working in the sector.
India’s electricity demand, which grew 6.5% in the first half of the current financial year, is projected to spike to 459 GW by 2035-36.