PLI, subsidies hurt long-term growth of clean energy sector
Minister Goyal
This story was originally published at 13:39 IST on 11 January 2025
Register to read our real-time news.Informist, Saturday, Jan. 11, 2025
NEW DELHI – Product-Linked Incentive schemes and subsidies are detrimental to the long-term growth and development of the clean energy sector in India, Commerce Minister Shri Piyush Goyal said.
At the launch of the Bharat Cleantech Manufacturing Platform on Friday, Goyal said that the PLI scheme can only help kickstart the sector, but the clean energy sector needs to become self-sustaining. "The cleantech sector must become independent of the government," Goyal said.
The government's flagship PLI schemes are operational in 14 manufacturing sectors, with a total outlay of INR 1.97 trillion, including in high efficiency solar photovoltaic modules.
Goyal asked the clean energy sector to think innovatively, and increase the manufacturing scale in the country. The launch of the Bharat Cleantech Manufacturing Platform will provide Indian firms a platform for financing. "This will help India become an attractive business case and a global leader in the sustainability and cleantech sector, he said.
Prime Minister Narendra Modi has set a target of building 500 gigawatt of clean energy sources by 2030 in India. End
Reported by Shubham Rana
Edited by Akul Nishant Akhoury
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
