A RADICAL TRANSITION

While the country has traditionally focused on service-based industries, the rising demand for clean energy solutions highlights the need for greater self-reliance and energy independence. It's clear we are steadily transitioning towards greener energy sources.

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India is at a crucial juncture in its economic and energy transition journey, and strengthening domestic manufacturing capabilities is essential. While the country has traditionally focused on service-based industries, the growing need for clean energy solutions like electrolysers, solar PV panels, and battery storage systems calls for self-reliance. Reducing dependence on global suppliers, particularly from countries like China and Germany, will enhance India's energy security and boost its position in the global market.

Accelerating the transition away from fossil fuels

The country is making significant strides toward reducing its dependence on fossil fuels through a multi-pronged approach aligned with its nationally determined contributions (NDCs) under the UN climate framework. According to Jayant Sinha, three key policies drive the energy transition: the National Biofuels Policy, the National Green Hydrogen Policy, and the National Electric Vehicle (EV) Policy.

“These three are important pathways. Additionally, accurate monitoring of energy demand is crucial to optimise resources and generate energy efficiently,” says Sinha. India has already achieved a renewable energy capacity of approximately 210 GW, with ongoing solar, wind, and bioenergy projects contributing further.

Jayant Sinha emphasises the role of data and digital technologies in accelerating the transition. “Technology interventions for real-time data monitoring are essential. Renewable energy obligations also ensure compliance, gradually reducing the reliance on fossil-based energy.”