Clean energy investments helped India weather West Asia crisis, says Modi
Prime Minister Narendra Modi stated that renewable energy investments over the last decade mitigated the impact of the West Asia crisis.
Prime Minister Narendra Modi said on Monday that India's investments in renewable energy over the last decade prevented the West Asia crisis from impacting the country more severely than the rest of the world. Speaking at the inauguration of the Bharat Renewable Energy Summit & Expo (2026) in New Delhi, Modi noted that the country's economy continued to grow despite the crisis.
According to reports from The Hindu and Moneycontrol, Modi stated that energy security is directly tied to economic security. He warned that heavy reliance on fossil fuels could lead to increased exposure to global disruptions. The Prime Minister noted that India has already achieved nearly 300 GW of non-fossil fuel-based capacity, with non-fossil sources making up more than 50 per cent of its installed power capacity.
Modi said the country aims to add another 500 GW of non-fossil fuel-based power generation capacity over the next 10 to 11 years. He also highlighted that India's solar module manufacturing has grown from 2 GW to 200 GW in ten years, while solar cell manufacturing capacity has reached about 40 GW.
The Prime Minister pitched India to global investors, stating that the scale, scope, and demand in the country are difficult to find elsewhere alongside political and policy stability. He mentioned that investment opportunities in the renewable energy sector could exceed $220 billion by the end of this decade.
Modi also discussed the benefits of solar energy for households and farmers. He said that about 44,000 government buildings are currently powered by solar energy, resulting in annual savings of approximately ₹700 crore. He further noted that under the PM-KUSUM scheme, more than 30 lakh farmers have benefited from solar-powered irrigation, with an estimated annual saving of ₹1 lakh per farmer using a solar pump.