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MSME Holds Green Energy Key

New Delhi: MSME Sector holds key for development Green Energy in the Country and accordingly thrust has been given for scaling up production of New and Renewable Energy in MSME Sector.

Union Minister, Micro, Small and Medium Enterprises, Nitin Gadkari is driving a momentum to promote renewable energy sources in MSME Sector.

The target for renewable energy installation is 450 Giga Watt (GW) by year 2030, said Union Minister Mr.Gadkari.

Minister addressing the Investors Abroad said that the MSMEs with good track record are now being encouraged for capital market.

Union Minister invited investors abroad to invest in Indian MSMEs and expressed hope that this will provide a number of opportunities to MSME sector to become the world’s largest manufacturing hub.

He also said that there is a huge opportunity for investment in scrapping policy.

Minister said India has tremendous potential and capacity for electricity generation.

Mr.Gadkari said that the solar power rate in India is Rs.2.40 per unit and commercial rate of power is Rs.11 per unit and the cheap power generated through solar energy can be used for automobiles and other developmental works.

He exuded confidence that within five years, India will be top manufacturing hub for automobile in the world.

Minister said, by making solar energy available, we will create big market for electric vehicles. 

Terming MSME sector as the backbone of the Indian economy, Sh. Gadkari said that the sector contributes around 30% in the country’s GDP and provides employment to over 10 crore people.

The event was aimed at providing a platform for MSMEs to showcase their strength, highlight their business opportunities, and to facilitate the dissemination of knowledge.

Indian renewable energy sector is the fourth most attractive renewable energy market in the world.

 India is at fifth position in solar and fourth in renewable power installed capacity.

The Union Government has set an ambitious target for renewable energy and in particular, solar power generation, for this decade and striving hard to achieve the target, said Mr.Gadkari.

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