Indigenous cleantech space key to sustainable economy

As India strides towards becoming a global economic powerhouse, the twin challenges of achieving climate goals and fostering economic growth need to be addressed in unison.

- Ashwani Mahajan

It is clear that the pathway lies in accelerating cleantech manufacturing, which represents a vital nexus between sustainability and industrial development. A robust domestic cleantech ecosystem also aligns with the vision of Atmanirbhar Bharat by reducing import dependencies and fostering indigenous innovation.

India's ambitious climate targets include achieving net-zero emissions by 2070, with interim milestones such as 500 GW of non-fossil fuel capacity and 30% electric vehicle (EV) sales by 2030. However, despite notable progress in renewables and e-mobility, challenges persist. Approximately 80% of India's solar capacity and up to 42% of wind infrastructure rely on imports, making us vulnerable to price volatility and supply chain disruptions. Prioritising domestic manufacturing will not only fortify India's economic sovereignty but also insulate its energy transition from external market fluctuations. The Production Linked Incentive (PLI) schemes, aimed at solar photovoltaic modules (PV) and advanced chemistry cell (ACC) batteries, mark a crucial step toward indigenisation.