India manages high growth rate amid unprecedented global challenges, says PM Modi
Xtreme News India
02-11-2026 21:47:09
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India manages high growth rate amid unprecedented global challenges, says PM Modi
New Delhi (Special Correspondent) - Prime Minister Narendra Modi said, it is a matter of pride for 140 crore Indians that the country has so far managed global challenges ranging from the COVID-19 pandemic to the West Asia crisis effectively and sustained high growth. Addressing the gathering after inaugurating four-day Bharat Renewable Energy Summit and Expo 2026 at Bharat Mandapam in New Delhi, the Prime Minister said the global economy has witnessed unprecedented crises over the past few years and the West Asia crisis is still continuing. He said that this global crisis has sent a clear message that energy security is directly linked to economic security. He said, the future of energy security lies in clean energy.
Prime Minister Modi said, today, more than 50 per cent of India’s installed power capacity is based on non-fossil fuel sources. He said, India is firmly working towards achieving the target of 500 GigaWatt. Mr Modi highlighted that fossil fuel reserves are limited, while the potential of renewable energy is unlimited, and every region and country can benefit from it.
Prime Minister Modi said, India is among the top three countries in solar and renewable energy sector. He added that this new phase of the solar revolution is not just about adoption but also depends on innovation. Mr Modi highlighted that in the last 12 years, more than 44 thousand government buildings have been connected to solar energy, resulting in savings of about seven hundred crore rupees annually. The Prime Minister stressed on the need to connect every government building, school, college, hospital, street-lighting system to solar energy.
Prime Minister Modi said that farmers across the country are also benefiting from the PM-KUSUM scheme. He said, through this initiative, more than 30 lakh farmers have been provided with solar-powered irrigation facilities. Mr. Modi stated that estimates indicate that farmers can save approximately one lakh rupees annually by using solar-powered pumps.
On the occasion, New and Renewable Energy Pralhad Joshi said that the renewable energy sector has attracted investments worth 67 billion dollars during the past two years. He said, under the guidance of Prime Minister Modi, India’s non-fossil fuel-based installed capacity has crossed 310 gigawatts, compared to 200 gigawatts in September 2024. Mr Joshi added that Foreign Direct Investment in the sector has also reached 6.2 billion dollars, reflecting strong investor confidence in the sector.
The summit has been being organised by the Ministry of New and Renewable Energy with the theme of Invest. Innovate. Inspire. Participants from more than 130 countries, including over 40 ministers, are attending the summit. It has brought together policymakers, investors, financial institutions and industry leaders to promote clean energy investments, technological innovation and international partnerships. In this summit, Australia, Denmark, the European Union, France, Germany, Netherlands, Norway, Sweden and the United Kingdom is participating as country partners. Thirteen States and Union Territories are showcasing their renewable energy potential, investment opportunities and manufacturing capabilities. (Source : Air India News)
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