India has been at the forefront in taking action for combating client change while meeting its development and growth aspirations. As India aspires to become carbon neutral by 2070, low-carbon development of energy systems would be a critical contributor to this journey.
Towards that, India is aiming to rapidly expanding its renewable energy capacity to 500 GW by 2030 while strengthening the electricity grid and enhancing its flexibility through usage of technologies such as storage. India is exploring a greater role for nuclear energy and enabling an ecosystem that can foster development of future technologies such as green hydrogen, fuel cells, and biofuels.
As China is gradually losing its manufacturing leadership position, Indian manufacturing sector is well poised to gain from this development on the back of a strong domestic consumption base and increasing export orders. India has the advantage of a vast pool of young and dynamic workforce and the Government in the last few years have taken multiple initiatives to make the country an attractive manufacturing destination for the world. ‘Make In India’, ‘Production Linked Incentives’ are some of the notable initiatives that have been instrumental in enhancing the country’s design and manufacturing capabilities to become the next global manufacturing hub.
In Solar, India’s panel manufacturing capacity is expected to increase to 60 GW by 2025 with improved backward integration into cell and wafer manufacturing. In Wind, India is a global manufacturing hub with almost 15 GW and most of the leading global manufacturers have their facilities in the country. ‘India Battery Manufacturing Vision’ targets over 500 GWh capacity by 2035 and have potential to attract USD 35 Bn investment in the country. India’s ‘National Hydrogen Mission’ aims at 5 MMTPA of green hydrogen production by 2030 thereby development of local manufacturing ecosystem for renewable energy, electrolyser, and fuel cells. India is also heavily invested in harnessing potential from Biomass through 2G-Ethanol, Bio-CNG, Sustainable Aviation Fuel, Waste to Energy, etc. All these initiatives will further solidify India’s leadership in global innovation and manufacturing.
Discussion points :
- Is the time appropriate for the Indian solar manufacturers to invest in backward integration i.e., cell and wafer manufacturing? Technological evolutions happening in this space.
- What are the challenges Indian solar manufacturers facing in scaling up their production capacities – access to raw materials and technologies, price fluctuations of input materials, financing, competitiveness in the global markets, etc. What are their current mitigation plans?
- Other than solar, what are the possible interventions required to create a sustained domestic demand for wind energy, ACC batteries, fuel cells, and biofuels thereby creating a strong business case for developing the entire manufacturing value chain for these industries in India.
- How mature the green financing industry in India? Challenges that renewable energy developers and equipment manufacturers are facing in development of new projects or enhancing manufacturing capacities.
- What are the recipes to make Indian products globally competitive and acceptable thereby boosting the country’s export revenue? Positive impact of evolving geopolitical scenarios on India’s export potential.
Moderator -:
Mr. Rudranil Roysharma
Director – Energy & Environment (MEASA)
Frost & Sullivan
Panelists -:
Mr. Vinod Kumar Agarwal
Managing Director, MPL Group
Chair - Energy Committee, Member -Managing Committee, The Federation of Telangana Chambers of Commerce and Industry
Mr. Deepak Jain
President
Grew Energy Private Limited
Mr.Roopesh Hira
Vice President
Domestic Sales, Vikram Solar
Mr. C Niranjan
Associate Vice President
Amara Raja Batteries Ltd.