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Bharat Cleantech Manufacturing Platform Unveiled to Propel India’s Sustainability Goals

Written by: Team Angel OneUpdated on: Jan 13, 2025, 2:08 PM IST
Union Minister Piyush Goyal launches Bharat Cleantech Manufacturing Platform, urging innovation and independence in India's clean energy sector.
Bharat Cleantech Manufacturing Platform Unveiled to Propel India’s Sustainability Goals
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The Bharat Climate Forum 2025 in New Delhi, Union Minister of Commerce & Industry, Shri Piyush Goyal, unveiled the Bharat Cleantech Manufacturing Platform. This initiative aims to strengthen India’s cleantech value chains across sectors like solar, wind, hydrogen, and battery storage, steering the nation towards its sustainability goals.

The Need for Innovation and Independence

During his keynote address, Shri Goyal emphasised that while product-linked incentives (PLIs) and subsidies have been useful to jumpstart the clean energy sector, they are not conducive to long-term growth. He urged the sector to transition towards self-sustainability, stressing the importance of reducing dependency on government support.

“India’s clean energy sector must innovate and scale up to stand independently,” he noted, encouraging industry stakeholders to reimagine their strategies and expand manufacturing capabilities.

The Bharat Cleantech Manufacturing Platform: A Collaborative Step Forward

The newly launched Bharat Cleantech Manufacturing Platform is designed to foster collaboration, co-innovation, and resource sharing among Indian firms. Shri Goyal highlighted its potential to:

  • Serve as a platform for financing opportunities.
  • Facilitate the exchange of ideas and technologies.
  • Make India a compelling global business case in sustainability and cleantech.

By leveraging this initiative, India can position itself as a leader in the global sustainability landscape, he added.

Progress Towards Clean Energy Targets

India has already demonstrated its commitment to renewable energy. Shri Goyal lauded the nation’s success in achieving the renewable energy targets set in 2015 as part of the Paris Agreement.

Key milestones include:

  • Achieving 200 GW of clean energy capacity, 8 years ahead of the 2030 target.
  • Aiming to meet the ambitious goal of 500 GW by 2030.
  • Operating the world’s largest interconnected energy grid.

He attributed these achievements to the Prime Minister’s vision, which prioritised transparency, competitive auctions, and large-scale implementation.

Gujarat: A Pioneer in Solar Power

Shri Goyal also reflected on India’s early adoption of solar energy, pointing to Gujarat as a trailblazer. He credited the affordability of solar power to the Government’s emphasis on transparency and equal competition.

The approach has been underpinned by the “3S strategy” of speed, scale, and skill, ensuring the rapid and efficient execution of renewable energy programmes.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Published on: Jan 13, 2025, 2:08 PM IST

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