Govt will continue to support India Energy Forum’s initiatives: Khuba

New Delhi: Government will continue to support India Energy Forum’s (IEF) initiatives to promote New and Renewable Energy resources and realize the investments for its transformation, said minister of state for NRE, Bhagwanth Khuba on Tuesday.

Addressing the inaugural session of India Energy Forum Energy Summit, the minister said that production linked scheme brought in to energy transition to net zero and ‘Aatmanirbhar Bharat’ will yield desired results for domestic manufacturers.

“The Phase I & Phase II of the Scheme is progressing well and will lead to transformation of renewable Energy. 25% reduction in import duty for cells and 40% in modules will help domestic manufacturers of to cope up the challenges of competition from manufacturers of cells modules from country such as China and will intensify manufacturing for renewable energy so that the future aims for its growth and expansion are achieved,” Khuba added.

He said that under the leadership of PM Modi, faster policy decisions are being taken to spur up economic growth and industrial activities of all critical sectors so that the aims set are attained without any delay and obstructions.

The Minister further said that whatever is required in terms of policy decisions for the growth of New & Renewables will be initiated through the consultative approach with all stakeholders as this government holds regular consultations with all the stakeholders. “This is particularly critical when world over the GDP factor is hardly stable.”

Speaking on the occasion, Ajay Mathur, Director General, International Solar Alliance (ISA) said that critical decisions will have to be taken for promotion of new & renewable energy particularly in view of constant challenges of climate change and increasing global temperature.

Mathur added that there is a need for liquid material batteries as compared to lithiumian batteries and sought extension of production linked incentives for expansion and growth of new & renewable energy with long-term development strategy. “ISA will be able to support member countries in raising finance through credit guarantee scheme.”

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