India’s renewable energy sector will witness a large part of incoming investments in the areas of indigenous products, innovative start-ups, transmission, and generation space in the coming years, said industry experts at a panel discussion in The Economic Times Energy Leadership Summit 2021.
According to Deepak Bagla, managing director and chief executive officer, Invest India, the country has huge potential in terms of investment opportunities.
“India had about $10 billion of foreign direct investment from 2000-2020 in the renewable energy sector, and of this over 50 per cent has come in the past five years,” said Bagla.
Industry experts said that India’s RE sector requires over $500 billion in the next decade — in wind and solar infrastructure, expansion and modernisation and for the indigenisation of batteries, etc.
“According to our Order book, indicated investments flow in India’s RE sector was about $70 billion before March 2020 i.e. the start of the pandemic and now it is $168 billion,” added Bagla.
Invest India is the national investment promotion and facilitation agency that helps investors looking for investment opportunities and options in India.