Govt to offer incentives for solar modules, says PM Modi

NEW DELHI : Prime Minister Narendra Modi on Thursday said production-linked incentives similar to those for electronic manufacturing will be offered for high-efficiency solar modules to boost the generation of electricity from renewable sources which has the potential to generate an annual business of $20 billion.

Speaking at the RE-Invest 2020 conference, he invited global investors to join India’s renewable energy journey.

“There are huge renewable energy deployment plans for the next decade,” he said, adding that these are likely to generate business prospects of the order of around $20 billion per year.

“Today, India’s renewable power capacity is the fourth largest in the world. It is growing at the fastest speed among all major countries,” he said.