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India's Renewable Energy Growth Sets Global Benchmark, Says IREDA Chief

At the World Economic Forum in Davos, IREDA's Chairman Pradip Kumar Das highlighted India's renewable energy ecosystem as a global model, noting a remarkable 22.5% compound annual growth rate over five years. He stated that the environment created by the government has made India a prime destination for foreign investment in green projects. Meanwhile, Union Minister Ashwini Vaishnaw clarified that the Davos summit focuses on sharing ideas and panels rather than formal delegation-to-delegation trade meetings. The progress of the Indian economy under Prime Minister Narendra Modi's leadership is a key topic of discussion among world leaders at the event.

Key Points: India's Renewable Energy Model a Global Example: IREDA CMD

  • India's renewable energy CAGR is 22.5%
  • IREDA is India's leading green finance agency
  • Davos is a forum for ideas, not formal trade talks
  • India blending tech with inclusive growth
  • Global investors actively investing in Indian RE
2 min read

"The way renewables have grown in India is an example for any global player," says IREDA CMD Pradip Kumar Das

IREDA CMD Pradip Kumar Das at Davos says India's clean energy ecosystem, with 22.5% CAGR, is a model for global players and investors.

"The way renewables have grown in India... is an example for any global player. - Pradip Kumar Das"

Davos, January 21

At the ongoing Davos summit, the head of the Indian Renewable Energy Development Agency, Pradip Kumar Das, on Wednesday, said that a strong clean energy system built by the Indian government over the last decade is now a model for the rest of the world. Speaking at the World Economic Forum, he highlighted that India has created a perfect environment for international companies to invest in green power projects.

Explaining the success of the Indian model, the Chairman & Managing Director (CMD) of the Indian Renewable Energy Development Agency Ltd. (IREDA), Pradip Kumar Das, said, "We have come here to share the information, the ecosystem which the government of India has built in the last 10-11 years, in particular. The way renewables have grown in India over the last decade, and more, is an example for any global player to learn from the ecosystem the government of India has built. The CAGR (Compound Annual Growth Rate) over the last five years is 22.5 per cent. We will not find such a CAGR growth in any industry. Many foreign investors are investing in India, and IREDA is the leading agency for RE financing in the country. We are the largest pure-play green finance company in the country."

Meanwhile, Union Minister Ashwini Vaishnaw on Wednesday said that while India is in constant touch with major world powers, the World Economic Forum is primarily a forum for sharing ideas rather than for formal group-to-group trade meetings.

On being asked if India will be having a meeting with the US delegation, Ashwini Vaishnaw said, "The format of Davos is a format where we generally do panels and bilaterals. The trade meetings take place according to the country's own schedules and negotiations. They are deeply engaged with all the major economies on practically all fronts at this point in time. This is not the forum in which we meet delegation to delegation."

The progress of the Indian economy under the leadership of Prime Minister Narendra Modi has become a top subject of debate among world leaders in Switzerland. Union Minister Ashwini Vaishnaw on Wednesday (Indian Standard Time) shared that the Indian team is present at all major meetings to explain how the country is combining modern technology with fair growth for all citizens.

- ANI

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Reader Comments

S
Sarah B
As someone working in the sustainability sector, India's progress is indeed impressive. The focus on creating an investable ecosystem is key. Hope this attracts more green tech and creates skilled jobs.
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Vikram M
Good to hear, but I hope this growth is equitable. Solar panels on rooftops in cities are common, but are villages getting reliable green power? The benefits must reach the last mile.
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Priya S
Absolutely! From seeing power cuts in my childhood to now having solar in our housing society, the change is real. This is a matter of national pride. More power to IREDA and our scientists!
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Rohit P
The numbers speak for themselves. 22.5% growth is no joke. This is the right direction for energy security and fighting climate change. Hope we keep this momentum.
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Michael C
Respectful criticism: While the growth is stellar, we must also talk about the environmental cost of manufacturing solar panels and disposing of old ones. The model should be circular, not just linear growth.
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Ananya R
This is the kind of soft power we need. Instead of just being a services hub, we are becoming leaders in solving a critical global problem. Let's make India the renewable capital of the world!

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