Prime Minister Narendra Modi has emphasised the importance of the mobility sector in making India a developed nation by 2047, a goal that aligns with the aspirations of a rapidly growing nation. The PM was addressing the Bharat Mobility Global Expo, a three-day event held from February 1 to 3, 2024, at the Bharat Mandapam in Pragati Maidan, New Delhi.
The expo is a grand showcase of a wide range of innovative technologies and upcoming vehicles, providing a glimpse into the future of the automobile industry.
He confidently stated that India will become the third-largest economy in the government’s third term, a testament to the country’s economic growth. The Prime Minister also highlighted the emergence of a new middle class in India, which is aspirational and experiencing a rise in income.
This increase in the economy and income, he said, will surely help the automobile sector grow, thereby contributing to the overall economic development of the country.
In the context of renewable energy, PM Modi announced the rooftop solar scheme, expressing a deep vision for it. He envisions people charging their vehicles through rooftop solar, a concept that aligns with the global shift towards sustainable energy sources.
This vision is backed by the ‘Pradhan Mantri Suryodaya Yojana’ announced earlier on January 22, under which the government will provide financial assistance to one crore households to get rooftop solar power systems.
This announcement comes on the heels of Finance Minister Nirmala Sitharaman’s pre-election budget presentation, where she announced a scheme to promote rooftop solarisation and free electricity in one crore households.
This scheme is expected to help households obtain up to 300 units of free electricity every month, leading to savings between up to ₹15,000 and ₹18,000 from free solar electricity and selling surplus to discoms.
The FM also mentioned the government’s commitment to provide viability gap funding for 1 GW of offshore wind energy, as part of India’s target of 500 GW of renewable energy capacity by 2030. This funding will also be provided for harnessing offshore wind energy capacity of 1 GW to achieve net-zero emissions by 2070.
India’s focus on green energy was also outlined by President Droupadi Murmu in her recent speech. She highlighted that the country’s solar capacity has jumped 26 times, while the renewable energy capacity has more than doubled to 188 GW.
According to the Central Electricity Authority data, India has a solar energy installed generation capacity of over 73 GW, wind energy capacity of about 45 GW, and large hydro capacity of 47GW.
Also Read: Ola Electric launches new e-scooter, introduces 8-year extended battery warranty across range
(Edited by : Ajay Vaishnav)
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