Green export of India to reach $500 Billion in 20 years

Mukesh Ambani, chairman and managing director of  Reliance Industries Limited (RIL), a conglomerate of oil to Telecom, said on Wednesday that India's green energy exports will exceed $ 500 billion over the next 20 years. The statement was issued when RIL began aggressive expansion into the green energy sector, including solar panel manufacturing, green hydrogen production, and energy storage. In the Asian Economic Dialogue, Ambani said "India's green energy exports would follow the growth path of India's technology and digital exports. India's technology and digital exports have increased from less than $ 10 billion 20 years ago to $ 150 billion. I think it will exceed $ 500 million by 2030. Similarly, India's clean and green energy Exports also have the potential to export $ 5 trillion over the next 20 years, 20 years from now. "Last June, RIL announced its foray into green energy with an investment of Rs 75,000 over the next three years. As part of the new energy and materials sector, there are plans to invest in solar and manufacturing, hydrogen production, electronic fuels, and energy storage. RIL's newly established division, Reliance New Energy Solar Ltd (RNESL), was one of the companies that won the first bid for solar equipment under the PLI scheme. India is currently a net importer of solar cells and modules with a capacity of almost 75% based on imported content from China. RNESL is in the process of acquiring Norwegian solar equipment manufacturer Solar Holdings and battery startup Farradion. It also acquired a 40% stake in Sterling & Wilson, a solar EPC company. The union government announced its first green hydrogen/ammonia policy last week. Under this policy, the government provides an SOP on how to make green fuel.