Summary:

India is on track to achieve energy self-sufficiency for the first time, driven by solar power and electric mobility, says Essar Group CEO Prashant Ruia. For 50 years, India relied on imported oil and gas, meeting 85% of its energy needs. With abundant solar and wind resources, India now generates energy domestically at low cost.

India’s energy transition is supported by cost advantages, unlike Europe, which faces higher energy costs due to limited access to cheap energy sources. European solutions like hydrogen, nuclear, and offshore wind are expensive and need subsidies to meet net-zero targets. India benefits from low-cost energy, requiring minimal subsidies. Essar Group is investing in businesses aligned with India’s energy goals, positioning the country for energy independence.

Source: IBEF

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