There is a strong two-way relationship between economic development and energy consumption. On one hand, growth of an economy, with its global competitiveness, hinges on the availability of cost-effective and environmentally benign energy sources, and on the other hand, the level of economic development has been observed to be reliant on the energy demand
The demand for electricity in the country has been growing at a rapid rate and is expected to grow further in the years to come. The Indian power sector is one of the most diversified in the world, compared to many developing countries where crude oil and natural gas and renewables play a major role.
The Government of India is taking a number of steps and initiatives like 10-year tax exemption for solar energy projects, etc., in order to achieve India's ambitious renewable energy targets. The government has also sought to restart the stalled hydro power projects and increase the wind energy production.
India with a production of 1,006 terawatt hours (TWh), is the fifth largest producer and consumer of electricity in the world. In India sources for power generation range from commercial sources such as coal, lignite, natural gas, oil, hydro and nuclear power to other viable non-conventional sources such as wind, solar, and agriculture and domestic waste.
The key components of Power sector include Renewable Energy, Wind Energy and Solar Power.
With policy liberalisation, the sector has witnessed high investment flows. The power ministry has set a target for adding 93,000 MW in the 13th Plan (2017–2022).
Wind energy is the largest renewable energy source in India; projects like the Jawaharlal Nehru National Solar Mission (aims to generate 20,000 MW of solar power by 2022). They also help build a positive environment to attract investors to India.
We at MIICCIA, setting up a body to coordinate this change. Our primary responsibility is to provide suggestions to the Government & Regulators in drafting of policies in these areas. We will be providing plateform and organizations national level Conferences and discussions with concerned Industry experts.