Page 40 - Policy Economic Report - September 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Fadnavis, and all the esteemed dignitaries, distinguished guests, and participants gathered for the
momentous occasion.

The commissioning of RTL Nashik marks a significant milestone in our journey to enhance national testing
capabilities and support the power sector’s technological advancement. This laboratory will not only serve
industry needs but also contribute to advancing research and development in power sector equipment
testing.

India Targets Swadeshi Solar Cells by 2028; Moving Towards Indigenous Wafers and Ingots: Union
Minister Pralhad Joshi
Union Minister for New and Renewable Energy Shri Pralhad Joshi has announced that India is firmly
moving towards building a complete Swadeshi solar value chain, with the target of achieving indigenous
solar cell manufacturing by 2028. Speaking at the State Review Meeting on Renewable Energy organised
by Ministry of New and Renewable Energy, the Minister said that the country is now advancing beyond
modules to develop domestic capacity for wafers and ingots as well, ensuring that the entire solar
manufacturing ecosystem is established within India. The Minister said that this step will not only reduce
import dependence but also generate employment, boost investment, and strengthen India’s position as
a global leader in clean energy manufacturing.

In his address, Shri Joshi appreciated the remarkable efforts of states in advancing renewable energy
initiatives, noting that these contributions are strengthening India’s position as a global leader in the
sector. He highlighted that India’s 2030 vision of achieving 500 GW of non-fossil capacity is already more
than halfway achieved, with the country crossing 251.5 GW of non-fossil capacity. He termed this
achievement a testament to the visionary leadership of Prime Minister Shri Narendra Modi, which
transformed India’s clean energy growth and domestic manufacturing in RE sector, and is accelerating the
march towards Viksit Bharat.

Progress Under PM Surya Ghar and PM-KUSUM

Highlighting key schemes, the Minister said that nearly 20 lakh households have already benefitted under
the PM Surya Ghar Muft Bijli Yojana. He urged states and DISCOMs to ensure strict quality compliance,
finalise agreements without delay, and offer the best possible tariff credits to consumers. On PM-KUSUM,
he noted that after initial reluctance, the scheme has now gained strong momentum across states, with
demand for additional allocations from Chief Ministers. He announced that the second phase of PM-
KUSUM will be launched after the present phase ends in March 2026.

On the issue of free electricity, Shri Joshi observed that benefits must be delivered in a financially
sustainable way. He pointed out that nearly half the beneficiaries under the PM Surya Ghar Yojana are
receiving zero electricity bills, demonstrating a model that combines relief for citizens with long-term
sustainability.

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