India’s Renewable Energy Growth Accelerates; Power Deficit Nearly Eliminated: Shri PralhadJoshi Government to come out with a policy on polysilicon shortly
Addressing the ministerial session on “Towards 500 GW: Scale, Speed and Self-Reliance” at the CII Annual Business Summit 2026, Shri Pralhad Joshi, Union Minister for New and Renewable Energy and Consumer Affairs, Food and Public Distribution, said India’s renewable energy journey has become central to the country’s economic growth, energy security and manufacturing ambitions.
He said India’s power deficit has been almost eliminated and noted that the country successfully met record peak demand levels without disruption, with any localised issues arising primarily from network-level constraints rather than generation shortages. “The 21st century will belong to India,” he said, underlining that renewable energy is now the most reliable and affordable pathway for sustainable growth. He also said the government will soon come out with a policy on polysilicon, a key raw material used in the manufacturing of solar photovoltaic cells and semiconductors.
On the government’s long-term vision, the Minister said energy policy is closely aligned with industrial, climate and trade priorities, supported by strong policy stability and investor confidence over the last 12 years. He noted that the Renewable Consumption Obligations trajectory has been notified up to 2030, while measures are being introduced to strengthen domestic upstream solar manufacturing, including wafer and polysilicon capabilities. He also highlighted green ammonia procurement initiatives and a standardised 10-year warranty framework for solar PV modules, along with fiscal incentives to states to accelerate renewable energy adoption, as part of efforts to build a self-reliant and globally competitive clean energy ecosystem.
Speaking at the session, Mr Girish Tanti, Chairman, CII RE Manufacturing Council and CII National Committee on Renewable Energy and Vice-Chairman, Suzlon, said, “The world is witnessing the fastest energy transition driven by electrification, data centres and energy security concerns, with renewable energy emerging as the cheapest and most scalable source globally.” He noted that India is uniquely positioned as a leader combining scale, speed, resilience and self-reliance, and stressed the need to strengthen grid infrastructure, bidding processes and domestic manufacturing ecosystems to sustain momentum towards the 500 GW target.
Mr Rahul Munjal, Co-Chairman, CII National Committee on Renewable Energy and Founder & Chairman, Hero Future Energies, said, “Energy self-reliance must be a national priority, and India must look beyond current targets towards a long-term clean energy vision including one terawatt capacity.” He highlighted electrification, green hydrogen and low-carbon industries as critical to reducing fossil fuel dependence, while pointing to land, grid and demand-side challenges, adding that 500 GW should be seen as the foundation for building an energy-independent India.
Mr Devansh Jain, Executive Director, INOXGFL Group said, “India’s renewable energy story is no longer just about sustainability, but about strategic leadership and building globally competitive clean energy capabilities.” He emphasised that India is now shaping, not following, the global energy transition, and called for faster execution, grid modernisation, policy stability and stronger domestic manufacturing across the clean energy value chain.
Dr Suchitra Ella, Vice President, CII, said India has entered the most decisive phase of its energy transition, moving from capacity creation to large-scale system transformation. She noted that India added 55.3 GW of non-fossil capacity in FY 2025–26 and met over 51% of peak electricity demand through renewables, reflecting strong policy direction, execution and industry participation. She added, “Achieving 500 GW is not just about adding capacity, but about faster, smarter execution to deliver reliable power at scale. It requires a transformative change in how power storage and delivery are planned.”
The session concluded with deliberations on India’s clean energy roadmap, manufacturing competitiveness, energy storage, grid modernisation and pathways towards achieving and potentially surpassing the 500 GW non-fossil fuel target, with industry leaders emphasising scale, speed and self-reliance in India’s energy transition journey.
12 May 2026
New Delhi