New Delhi, Feb 3 (PTI) – The renewable energy industry has welcomed the Union Budget 2025-26, lauding its emphasis on clean energy, domestic manufacturing, and sustainability as pivotal steps toward accelerating the sector’s growth.
Union Finance Minister Nirmala Sitharaman, in her record eighth consecutive budget presentation, outlined several strategic initiatives to strengthen India’s position as a global clean energy leader.
Industry Leaders Hail Budget’s Focus on Green Energy
Vineet Mittal, Chairman of Avaada Group, emphasized the importance of global manufacturing clusters and clean tech advancements under the National Manufacturing Mission, stating that these initiatives will position India as an industrial powerhouse.Sumant Sinha, Founder, Chairman & CEO of ReNew, welcomed the ₹20,000 crore allocation for nuclear energy and proposed legislative reforms, calling them a progressive step towards energy security and decarbonization.
Nikhil Sawhney, Managing Director, Triveni Turbines, said the initiatives will act as a catalyst for innovation, sustainability, and self-reliance, reinforcing India’s leadership in advanced energy solutions.
Boost to Solar Manufacturing and Rooftop Solar Initiative
Highlighting the government’s continued push for solar energy, Abani Jha, CFO of Saatvik Green Energy, stated that the focus on domestic manufacturing of solar cells, modules, and grid-scale batteries aligns with India’s vision of self-reliance in solar technology and reduced import dependency.Yogesh Dua, CEO of UTL Solar, noted that the increased focus on rooftop solar is crucial for national energy security and sustainability. The ₹20,000 crore allocation to the PM Surya Ghar Muft Bijli Yojana reflects the government’s strong commitment to sustainable energy and environmental responsibility.
Lithium-Ion Battery Exemptions to Strengthen EV and Storage Ecosystem
The budget’s proposal to fully exempt basic customs duty on lithium-ion battery (LiB) scrap and critical minerals like lead and zinc is a game-changer, according to Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical. This policy will lower costs, streamline recycling processes, and enhance the accessibility of essential raw materials for domestic manufacturers.Amit Paithankar, Whole-Time Director & CEO of Waaree Energies, also lauded the National Manufacturing Mission and enhanced Production-Linked Incentive (PLI) schemes, stating that tariff rationalization for critical minerals will drive rapid expansion of the renewable energy ecosystem.
Support for MSMEs and Startups in Renewable Energy
The budget’s enhanced loan limits for MSMEs and startups were well received by Mamtamayi Priyadarshini, Chairperson of the Indian Industries Association – Delhi Chapter, who called it a lifeline for businesses across industries.Need for Comprehensive Reforms in the Renewable Sector
While industry leaders welcomed the budget, some experts, like Parag Sharma, CEO & Founder of O2 Power, stressed the need for a comprehensive approach that includes land reforms, grid security, and faster execution of power purchase agreements to accelerate India’s clean energy transition.Rajeev Kashyap, SVP and GM of Nextracker India, Middle East, and Africa, pointed out that the domestic manufacturing push for grid-scale batteries, electrolysers, and solar cells will reduce import dependency and lower costs, making clean energy more affordable and accessible.
India’s Green Future Strengthened by Union Budget 2025-26
With major investments in nuclear energy, solar power, and battery storage, along with policy support for clean energy and sustainability, the Union Budget 2025-26 has reinforced India’s commitment to renewable energy and a carbon-free future.
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