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Pralhad Joshi New Delhi: Renewable Energy Minister Pralhad Joshi on Thursday urged the wind energy industry, including original equipment and component manufacturers, to raise local content in projects to 85% from the current 64%.Joshi said increasing domestic value addition was essential to strengthen India's clean energy supply chain amid evolving global dynamics and rising geopolitical challenges.The minister was addressing the seventh edition of Windergy India in Chennai. "Wind energy contributes nearly one-fifth of the 257 GW of installed [non-fossil fuel] capacity," Joshi said. "Wind is playing a crucial role in driving Aatmanirbharta and indigenisation, given its high local content."India can capture 10% of the global wind supply chain by 2030, and up to 20% by 2040, he added.India is among the five countries that manufacture most wind components domestically and has achieved nearly 54 GW of installed wind capacity. With policies ensuring compliance with the Approved List of Models and Manufacturers (ALMM) for wind, the government expects the next 46 GW of capacity addition to be largely driven by domestic manufacturing. In the ongoing financial year, wind capacity installations are projected to exceed 6 GW, the minister said.Live EventsWith nearly 64% local content and over 2,500 MSMEs contributing to the sector, India has built one of the most resilient and competitive wind manufacturing ecosystems in the world, said Girish Tanti, Chairman of the Indian Wind Turbine Manufacturers Association. -Our BureauAdd as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onwind energyrenewable energyPralhad JoshiIndia wind manufacturinglocal contentWindergy IndiaMSMEs in wind sector (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onwind energyrenewable energyPralhad JoshiIndia wind manufacturinglocal contentWindergy IndiaMSMEs in wind sector(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
