The Union Minister for Power, new and renewable energy, RK Singh said that the biggest challenge for the Indian Electric Industry ecosystem is to match the capacity with the increasing power demand while keeping the goal of sustainable energy in mind.

The minister speaking on Saturday at the 15th edition of ELECRAMA.

“The challenge for us has just begun, India is growing rapidly the power demand in the country has grown 10 percent in 2022 as compared to 2021. Hence to achieve the goal of 500 Giga Watts of power, which is more than 50 percent of consumption by 2030 we need to double the scale of transmission lines. If we don’t succeed the growth rate of the country will also come down,” said the Union Minister.

The largest stand-alone exhibition of the Indian Electrical and Allied Electronics Industry, ELECRAMA, organised by IEEMA, started today February 18 at the India Expo Mart in Greater Noida.

While addressing the event the Minister of Power said that India has already achieved the goal pledged in COP21 with renewable energy consumption.

"At COP21 in Paris, in 2015, we pledged that 40 percent of our energy will come from non-fossil fuels, which we achieved nine years in advance, in November 2021."

He further added that more than 40 percent of India’s capacity is renewable and the emission intensity of the country has been reduced by 30 percent already.

India’s of capacity addition has been one of the fastest in the world. We have emerged as one of the most attractive investment destinations for renewables. Every major fund in the world has invested in India and more are coming. We have built a huge ecosystem for renewables, said Singh.

Singh further added that over 17,000 circuit kilometers of transmission lines were installed in India in the last nine years to strengthen the electricity distribution system.

The government announced a plan in December 2022 to construct a transmission system to evacuate 500 GW of non-fossil energy by 2030. The proposal offers investment opportunities worth around Rs 2.44 lakh crore to transmission service providers.

“The electronic industry sector has powered the growth of the country, we have powered the country by being a leader in investment,” said Singh.

Power sector has a major highlight in Union Budget of 2023 and that is the long-awaited renewable energy initiative in Ladakh. received an investment announcement of Rs 20,700 crore (including government funding of Rs 8,300 crore) for its inter-State transmission system.

The primary announcements for the sector included a larger allocation to the program related to the distribution sector and financial support for energy storage projects. The Finance Ministry has doubled the allocation to the Reform Linked Distribution Scheme to about Rs 12,071 crore which was in line with the Power Ministry proposal.