India’s economic growth is high despite ongoing West Asia crisis: PM Modi | Economy & Policy News

Prime Minister Narendra Modi on Monday said India’s economic growth is strong despite the ongoing West Asia crisis, and the country is set to add about 500 GW of renewable energy capacity over the next 10-11 years. 

Speaking at the inaugural session of the Bharat Renewable Energy Summit & Expo 2026, Modi said that the country’s non-fossil fuel capacity is over 300 GW and expressed confidence that India will achieve the 500 GW renewable energy target by 2030.

He said that over the next 10 to 11 years, about 500 GW of renewable energy capacity will be added. He noted that it is a tough call, but “we have to do it”. 

“If India had not created renewable energy capacity in the last 10 years, then the energy crisis in India could have been worse than in other parts of the world… India’s economic growth is high despite the ongoing West Asia crisis.” The West Asia crisis disrupted energy supplies worldwide earlier this year and created difficulties for many countries. 

Modi also asked investors to invest in India, saying the country offers huge investment opportunities in renewable energy as it provides political and policy stability. 

The Prime Minister stated that by the end of the decade, investment opportunities worth over ₹20 lakh crore will emerge in the renewable energy sector. Modi also said that India is among the top three countries in the solar and renewable energy sector.

“We need to connect every government building, school, college, hospital, street-lighting system to solar energy …We need an indigenous storage solution and must develop new battery storage capacity,” he stated. 

India is progressing rapidly to take a big leap in green hydrogen and has a target of annual production capacity of 50 lakh tonnes, Modi said while highlighting progress in the National Green Hydrogen Mission. 

He also highlighted the Green Energy Corridor (inter-state transmission lines), which will help evacuate power from the upcoming renewable energy capacity. 

The govenrment has provided an outlay of ₹2 trillion for the second phase of Green Energy Corridor. 

Modi said the future of energy security lies in clean power. He noted that more than 44,000 govt buildings have been connected to solar energy, resulting in annual savings of about ₹700 crore.