India gets $3.8 billion FDI in solar sector in last three FYs: MoS Bhagwant Khuba
FDI) in the solar energy sector over the past three financial years and the current financial year until September 2023, according to Bhagwant Khuba, Minister of State for Ministry of New and Renewable Energy, and Chemicals and Fertilisers.
Khuba highlighted that both domestic and foreign investors were contributing to the installation of solar power plants in the country. This increase in FDI is a testament to the confidence investors have in India's solar energy sector.
The Minister shared this information in a video message during the third edition of ETEnergyWorld's Solar Power Congress 2024, held on March 6, 2024. He further mentioned that setting up renewable energy projects, including solar energy projects, can benefit from up to 100% FDI through the automatic route. This move aims to encourage the growth and development of the renewable energy sector in India.
Khuba emphasized that these are exciting times for the renewable energy industry in the country, as it is on the brink of a major revolution. The Indian government has implemented various measures to promote solar energy, such as waiving ISTS charges for renewable energy projects commissioned by June 30, 2025. Additionally, a trajectory for renewable purchase obligation up to 2030 has been declared, and ultra-mega renewable energy parks have been established to provide land and transmission to renewable energy developers.
The Minister also highlighted the launch of several groundbreaking schemes, including PM-KUSUM, solar rooftops phase-II,
