MSME sector to promote renewable energy: Nitin Gadkari

New Delhi: Theg overnment is committed to promoting Renewable Energy sources in the country, especially in the Micro, Small and Medium Enterprises sector. Union Road Transport and Highways and MSME Minister Nitin Gadkari said this.

India will become the top manufacturing hub for vehicles

Gadkari expressed confidence that within 5 years India will be the top manufacturing hub for vehicles in the world. The Union Minister said, “We will make a big market for electric vehicles by providing solar energy.”

He invited foreign investors to invest in India’s MSME sector. He said that this will provide a lot of opportunities to the MSME sector, which will make it the largest manufacturing hub in the world.

Gadkari was addressing a webinar on ‘Self-reliant India-Solar and Opportunities in MSME’ on Friday. On this occasion, he said that MSME units with the good backgrounds are being encouraged to enter the capital market. He said that there are huge investment opportunities in vehicle scrapping policy.

The minister mentioned that there is a huge potential for electricity production in India. He said that the rate of solar electricity in India is Rs 2.40 per unit and the commercial rate of electricity is Rs 11 per unit. Cheap electricity produced through solar energy is used in vehicles and other development works.

The government has set an ambitious target for renewable energy and in particular, solar power generation, for this decade. The target for renewable energy installation is 450 GW by the year 2030.