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Economy News

News on Indian Economy and Sectors, which have impacts in the market.

 
India Pledges To Achieve 500 GW Renewable Energy Target By 2030: RK Singh
26-Sep-23 12:42Hrs IST

Union Minister of Power and New & Renewable Energy R K Singh underlined that India's current non-fossil capacity stands at an impressive 188,000 megawatts, with an additional 88,000 megawatts already under installation. We pledged to reach 500 gigawatts by 2030, and we are set to achieve that goal well in advance, Minister Singh said. Minister Singh noted that despite constituting 17% of the world's population, India contributes only 4% to the global carbon dioxide load. The Minister further emphasised that India's per capita emissions are approximately 2.2 tonnes, significantly lower than the global average of 6.3 tonnes, accentuating the country's responsible energy consumption habits. The Minister underscored the government's commitment to environmental stewardship. He affirmed that India is the only major global economy whose energy transition actions are aligned with limiting the global temperature rise to under two degrees Celsius. Moreover, he also mentioned India's achievement of all its Nationally Determined Contributions (NDCs) nearly a decade earlier than committed.

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