The minister made the statement, hinting at changes to the solar auction program, at the event, which saw global technology providers, equipment makers and ‘PV champions’ present products to Indian companies drawing up solar manufacturing plans. The virtual event was organized by national policy thinktank NITI Aayog, the Ministry of New and Renewable Energy (MNRE) and Invest India.
 

“India had promised on the sidelines of COP-21 the United Nations Climate Change Conference held in Paris in 2015] that by 2030, 40% of the country’s energy capacity will be from non-fossil fuel sources,” said the power minister. 
 

He further added, India “is already at 38.5% and by 2030, 60% of its energy capacity is expected to be from non-fossil fuel sources.” The minister said the nation was on the way to meet its renewable energy targets of 175 GW by 2022 and 450 GW by 2030.
 

The ministry is introducing supply-side interventions to encourage domestic renewables manufacturing, including basic customs duty (BCD) for imports, a performance-linked export scheme and an interest subvention scheme which will offer credit at low, subsidized interest rates. Demand-side interventions by the ministry include a domestic content need on equipment provided for the Kisan Urja Suraksha Evam Utthan Mahaabhiyan (KUSUM) rural and rooftop solar programs said MNRE secretary Indu Shekhar Chaturvedi.