The Union Minister for New & Renewable Energy and Power, Shri R. K. Singh, revealed that India has been ranked 46th in the “Frontier Technologies Readiness Index” of the “Technology and Innovation Report 2023,” published by the United Nations Conference on Trade and Development (UNCTAD). The report assesses countries’ preparedness for embracing cutting-edge technologies.
Addressing a query in the Lok Sabha, the Minister informed that the Indian government, in collaboration with an external panel of experts led by Dr. Anil Kakodkar, Former Chairman of the Atomic Energy Commission, conducted a comprehensive review of the research and development (R&D) landscape towards green energy transition. The committee identified key areas for research focus, aiming to amplify the share of renewables within the country’s energy mix.
As a result of the committee’s recommendations, the Renewable Energy Research and Technology Development Programme (RE-RTD) has been extended from 2021-22 to 2025-26. The program carries a budget of Rs. 228.00 crore and is channeled through research institutions and industries. It fosters the creation of indigenous technologies and manufacturing processes for efficient and cost-effective utilization of renewable energy.
The ministry provides substantial financial backing to support these endeavors. Government and non-profit research organizations can receive up to 100% financial support, while industry players, startups, private institutes, entrepreneurs, and manufacturing units are eligible for up to 70% funding.
India’s pursuit of innovative renewable energy solutions underscores its commitment to sustainable development and technological advancement. This information was conveyed by Shri R. K. Singh in a written response to a parliamentary inquiry, demonstrating the government’s proactive stance in driving a greener and more energy-efficient future.