The Union Budget 2025-26 marks a significant milestone in India’s journey toward clean energy, sustainability, and industrial growth. With a strong focus on domestic manufacturing, battery storage, and renewable energy infrastructure, the budget aims to accelerate India’s transition to a self-reliant and green economy. Key industry leaders have responded positively, highlighting its impact on solar PV manufacturing, grid modernization, and policy reforms. The government’s commitment to Make in India, coupled with tax incentives and financial support, is expected to drive investment, innovation, and job creation. Below are the expert insights on how the budget shapes India’s renewable energy future.
D. V. Manjunatha, MD & Founder of Emmvee Group, sees the budget as a progressive step that reinforces India’s commitment to clean energy leadership. He emphasizes the focus on research and development in advanced solar technologies, which will enhance efficiency and cost reduction while accelerating domestic manufacturing. Abhishek Malik, Executive Director of Calcom Vision Limited, acknowledges the government’s support for the Make in India initiative and policies that strengthen domestic manufacturing, including solar PV cells, electrolyzers, and grid-scale batteries. These efforts will help India compete globally in energy-efficient solutions.
Dushyant Chachra, CFO of SAEL, described the budget as transformative for India’s renewable energy sector. He praised the government’s focus on Make in India and clean tech manufacturing, which will drive the development of solar PV cells and batteries. He welcomed the push towards achieving 100 GW of nuclear energy by 2047 and the investment in research for Small Modular Reactors. He also highlighted tax reforms that will increase disposable income and benefit consumer spending.
Rupal Gupta, Co-founder, MD & CEO of Oriana Power, stated that the budget takes decisive steps towards accelerating India’s energy transition. He highlighted incentives for green hydrogen, domestic manufacturing of electrolyzers, solar PVs, and energy storage solutions, which will strengthen India’s energy security. He also noted the importance of grid modernization and clean energy infrastructure, emphasizing that Oriana Power remains committed to supporting large-scale solar projects.
Vinay Thadani, Director & CEO of GREW Solar, highlighted the government’s commitment to renewable energy and the Make in India initiative. He pointed out that the new manufacturing mission will support industries of all sizes with policy backing, creating an ecosystem for solar PV cells, electrolyzers, and grid-scale batteries. He emphasized that these initiatives will lead to job creation, lower panel costs, and increased focus on research and development. He also appreciated the simplification of income tax, which he believes will boost consumption and economic activity.
Ankit Hakhu, Director of Crisil Ratings Ltd., noted that the removal of customs duty on lithium-ion battery scrap and related machinery will strengthen India’s battery storage ecosystem. He emphasized that battery-backed renewable projects are expected to account for a significant share of capacity additions in the coming years.
Vignesh Nandakumar, CEO Asia of Enfinity Global, welcomed the launch of the National Manufacturing Mission and the government’s efforts to expand domestic solar manufacturing. He highlighted the importance of electricity distribution reforms and intra-state transmission capacity enhancements, which will improve grid stability and energy efficiency.
Abhishek Malik, Executive Director of Calcom Vision Limited, noted that the budget strengthens the Make in India initiative and export promotion while enhancing the ease of doing business. He pointed out that policy support for solar PV cells, electrolyzers, and grid-scale batteries aligns with his company’s vision of expanding energy-efficient solutions. He also welcomed the establishment of the National Centres of Excellence for Skilling and global partnerships, which will enhance India’s talent pool for manufacturing leadership.
Piyush Goyal, Co-Founder & CEO of Volks Energie, described the budget as futuristic and forward-looking, with a strong emphasis on deep tech and clean technology. He highlighted the government’s commitment to solar photovoltaic cells, EV batteries, and wind turbines, which will contribute to clean tech manufacturing under the National Manufacturing Mission. He welcomed the exemption of Basic Customs Duty on cobalt powder, lithium-ion battery waste, and other critical elements, which will boost indigenous manufacturing. He also noted the significant allocation to the National Green Hydrogen Mission and CAPEX investments, suggesting that the government should further streamline the tendering process and offer performance-linked incentives for infrastructure projects.
The Union Budget 2025-26 prioritizes India’s clean energy transition and industrial growth through policy incentives, financial allocations, and tax reforms. A major focus on solar PV manufacturing, battery storage, and green hydrogen showcases the government’s commitment to reducing dependency on imports while promoting domestic innovation. The budget aligns with India’s long-term energy and sustainability goals, ensuring financial and regulatory support for renewable energy adoption. Leaders across industries see this as a crucial step in accelerating infrastructure modernization, job creation, and investment flow into the sector. By simplifying taxation and easing business regulations, the budget aims to drive overall economic expansion.
The budget strategically integrates clean energy initiatives with economic policies, ensuring holistic growth for industries and consumers alike. By focusing on Make in India and clean-tech manufacturing, the government aims to enhance competitiveness while creating a robust domestic supply chain. The push for battery storage and green hydrogen reflects India’s ambition to lead in emerging technologies. Investments in grid modernization and nuclear energy expansion indicate a long-term vision for energy security. Tax reforms will stimulate demand by increasing disposable income, indirectly benefiting industries reliant on consumer spending. However, challenges like efficient fund allocation and timely execution will determine its success.
The Union Budget 2025-26 lays a strong foundation for India’s energy and industrial future, focusing on sustainability, manufacturing, and infrastructure development. The emphasis on solar PVs, battery storage, and clean technology aligns with India’s renewable energy targets. While industry leaders have expressed optimism about policy support and financial incentives, effective implementation will be key to realizing the intended impact. The commitment to grid modernization and manufacturing will reduce import dependency and enhance global competitiveness. If executed well, this budget has the potential to drive India’s clean energy leadership, boost economic resilience, and accelerate the transition to a sustainable future.
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