Mon Sep 16 14:49:49 UTC 2024: ## India Beckons Global Investment in Green Energy: Modi Calls for “Best Bet” in 21st Century

**Gandhinagar, India -** Prime Minister Narendra Modi has extended a strong invitation to global companies to invest in India’s burgeoning renewable energy sector, highlighting the country’s “best bet” for success in the 21st century. Speaking at the inaugural address of the Global RE-Invest summit, Modi emphasized India’s position as the world’s fourth-largest renewable energy market and its commitment to a green transition.

“India is a guarantee for better returns if you are looking to expand,” Modi stated, urging companies to leverage India’s scale, capacity, potential, and performance.

The summit, organized by the Ministry of New & Renewable Energy (MNRE) in partnership with the Confederation of Indian Industry (CII), witnessed a flurry of pledges from both domestic and state companies to accelerate clean energy adoption.

The Adani Group announced a massive $48 billion investment by 2030 to expand its renewable energy power capacity from 11.2 GW to 50 GW. The conglomerate also plans to increase solar manufacturing capacity to 10 GW and wind turbine manufacturing capacity to 5 GW.

Torrent Power, an integrated power utility, committed to investing ₹64,000 crore in green energy projects, creating 26,000 new jobs, and achieving 10 GW of installed renewable energy capacity by 2030.

These commitments, along with others made by financial institutions and manufacturers, underscore India’s commitment to achieving its ambitious renewable energy targets.

“India’s installed renewable energy capacity has risen from 75.52 GW in March 2014 to over 207.7 GW, a phenomenal 175 per cent increase in 10 years,” said Minister of New & Renewable Energy Pralhad Joshi.

The RE-INVEST 2024 summit, held from September 16 to 18 in Gandhinagar, serves as a platform for fostering collaboration and accelerating India’s clean energy transition. With its strong commitment to renewable energy and welcoming investment climate, India is poised to become a global leader in the green energy revolution.

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