Nitin Gadkari Encourages Manufactures to Make India Self-Reliant in Terms of Solar Panels

- Advertisement -
  • Nitin Gadkari highlighted that India still imports imports energy efficient solar panels
  • He highlighted towards the opportunity for India to attract foreign investment in the country
Solar Panels For Sale in a Village

Union Minister for MSME and Road Transport and Highways, Nitin Gadkari held a meeting via video conferencing with the members of Maha Solar Sangathan to understand the opportunities in the solar energy sector. The Minister highlighted the importance of solar energy and said that the sector has a huge potential and can help to reduce the electricity cost significantly.

He further mentioned that sectors such as agriculture, warehousing etc. are energy extensive sectors and proper commercial use of solar energy such as solar water pump for irrigation and solar electricity for cold storage can contribute towards reducing power cost.

India imports in big numbers from China

It is to be noted here that India imported solar cells and modules worth $1,179.89 million from China in the first nine months of the 2019-20 financial year (FY). In FY17, FY18, and FY19 India’s solar imports from China stood at $2,817.34 million, $3,418.96 million, and $1,694.04 million, respectively.

- Advertisement -

In FY17, FY18, and FY19 the total value of the India’s solar imports stood at $3,196.5 million, $3,837.6 million, and $2,159.7 million, respectively. China-headquartered companies supply about 80 per cent of solar cells and modules to India.

Export enhancement along with import substitution

The union minister emphasized on the need of export enhancement along with import substitution to replace foreign imports with domestic production. He highlighted that India still imports energy efficient solar panels and encouraged the manufactures to make India self-reliant with the help of “Make in India” products.

The Minister mentioned that for providing much-needed impetus to the MSME sector to deal with the current economic instability, the government has announced several measures under Special Economic Package: Aatmanirbhar Bharat Abhiyan including collateral free automatic loan, which will allow the MSMEs to enhance working capital by 20% without providing additional collateral.

Gadkari urged the industry representatives to come up with some new, innovative and economically viable business model which can be implemented in various sector such as agriculture, warehousing etc. to provide low cost sustainable energy. He said that this will not only help to reduce the cost of energy in various sector but also give the required thrust for “Make in India” initiative.

He opined that industry should focus more on innovation, entrepreneurship, science and technology, research skill and experiences to convert the knowledge into wealth.

The Minister recalled that Government of Japan has offered special package to its industries for withdrawing Japanese investments from China and move elsewhere. He said that this can be an opportunity for India to attract foreign investment in the country.

- Advertisement -

Most Popular Articles

Mukul Yudhveer Singh
Mukul Yudhveer Singh
Mukul Yudhveer Singh is an Editor at EFY. He’s an experienced business journalist who is both an enthusiast and a cynic of technology. Believes in data, as well as hunch-based journalism. He defines journalism as- reporting facts which help the audience take their own decisions, not ones that influence them!
Automotive car sensor

ISRO Chairman Urges Association With Automotive Industry To Produce Sensors Locally

0
The space research organization is making significant strides in creating indigenous car sensors to empower the automotive industry. At the Bangalore Tech Summit on November...

U.S. Approves $1.5B Subsidy For GlobalFoundries Expansion

0
Winning the $1.5 billion US government subsidy, GlobalFoundries is looking to power industries like automotive, IoT, and defence with advanced chip manufacturing in New...

Trump’s Tariff Plan Could Derange Electronics Pricing

0
From disrupting global semiconductor supply chain to inflating iPhone prices, what can Donald Trump's proposed tariff raise on Chinese imports can cause? Donald Trump,...
Chip Manifacturing-NIvidia

New Blackwell Chip Will Propel Nvidia’s Unprecedented Market Growth In Coming Years

0
These chips have effectively dispelled concerns regarding potential pullbacks from tech giants investing heavily in AI processing and data centers. The global AI backed fabless...

David Goeckeler Appointed Chair Of SIA Board

0
Bringing 40 years of tech experience to lead the global semiconductor industry, David Goeckeler, CEO of Western Digital, joins to lead the SIA Board...
Abhishek Malik from Calcom Vision Limited

“India’s Electronics Sector Is Growing Rapidly, Making This The Decade For Investors To Engage”...

0
From the complexities of manufacturing and sourcing components to testing processes that drive innovation, know all the exciting dynamics shaping this ever-evolving industry in...
Sunit Kapur, CEO of Epsilon

“Epsilon Leads With Low-Carbon Graphite Manufacturing, Outpaces Chinese Competitors” – Sunit Kapur, CEO of...

0
Are LFP cathodes and silicon-graphite anodes the best for cost efficiency in EV batteries? Sunit Kapur, CEO of Epsilon Advanced Materials, discusses this with...
John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...
Raman M., Co-Founder and CEO, chargeMOD

“Our Goal Is To Achieve Complete Sustainability By 2025-2026” – Raman M. Of chargeMOD

0
In a conversation with Nitisha Dubey from EFY, Raman M. of chargeMOD, elaborated his goal of developing virtual power plants by decentralising power production. Q....

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Applied Materials Representational Image

Applied Materials Selects Six Startups For Deep-Tech Accelerator Programme

0
The selected deep-tech startups will be evaluated for investment by Applied Ventures and potential collaboration opportunities with Applied Materials. In collaboration with the company's India...

Space tech Startup Akash Secures $68M CHIPS Funding

0
Eyeing to power into AI, EVs, and more high-tech industries, Akash Systems lands $68 million CHIPS grant to boost its cooling tech facility, generating...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Industry's Buzz

Learn From Leaders

Startups