Davos (Switzerland): India’s clean energy system developed over the past decade has emerged as a model for countries around the world, said Pradip Kumar, Chairman and Managing Director of the Indian Renewable Energy Development Agency (IREDA). Speaking on Wednesday at the World Economic Forum in Davos, Kumar said the Indian government has created a strong and supportive environment that is attracting global companies to invest in renewable energy projects.
Kumar said India’s renewable energy sector has expanded rapidly over the last 10 to 11 years, supported by clear policies and a stable ecosystem. He noted that the sector has recorded an average annual growth of 22.5 per cent over the past five years, a pace that is rarely seen in other industries. He added that the steady rise in foreign investment shows growing global confidence in India’s clean energy policies, and said IREDA has become the country’s leading institution for financing green power projects.
Meanwhile, Union Minister Ashwini Vaishnaw said the World Economic Forum mainly serves as a platform for exchanging ideas and perspectives, rather than holding formal trade discussions between countries. He said India remains in regular contact with major global economies through separate official channels.
On questions about possible meetings with the US delegation, Vaishnaw said discussions at Davos usually take place through panel discussions and individual meetings. He explained that formal trade talks follow their own schedules and negotiations, and are not conducted at the forum.
Vaishnaw also said India’s economic progress under Prime Minister Narendra Modi has become a key topic of discussion among global leaders in Switzerland. He added that Indian representatives are taking part in major meetings to explain how the country is using modern technology to promote growth while ensuring equal opportunities for all citizens.
