New Delhi – India’s Commerce and Industry Minister, Piyush Goyal, on Thursday urged the nation's energy storage industry to significantly reduce its reliance on imports from specific geographies, advocating for diversified supply sources and intensified domestic research and development. Speaking at the 11th India Energy Storage Week, Goyal emphasized the critical need for supply chain resilience to prevent market distortions and ensure national self-sufficiency in key energy technologies.

“We must work to prevent distortions. We must reduce our dependency on particular geographies and look at alternative sources of supply, where we can have resilience in our supply chain,” Goyal stated. His remarks highlight a broader governmental push to de-risk India's energy transition from external vulnerabilities, particularly in light of challenges faced by sectors like automotive due to restrictions on rare earth magnets and fertilizer exports from China.

The Minister called for a concerted effort from the industry to explore novel technologies that can curtail import dependence and foster self-reliance. He specifically urged enhanced collaboration among stakeholders to develop robust charging and battery swapping infrastructure, crucial for accelerating electric vehicle (EV) adoption and ensuring accessible e-mobility across the country. This collaborative approach is seen as vital for building a comprehensive ecosystem that supports the rapid deployment of EVs.

Goyal also underscored the government's proactive measures to bolster domestic manufacturing in the energy sector. He cited impressive growth figures, noting a remarkable 4,000% increase in India's installed solar capacity, with the overall renewable energy capacity now standing at 227 GW. Furthermore, he highlighted that India's solar photovoltaic module manufacturing capacity has expanded nearly 38-fold, and solar photovoltaic cell capacity has increased 21-fold, demonstrating significant strides in local production capabilities. These statistics reinforce the government's commitment to leveraging domestic strengths to achieve energy security and sustainable growth, aligning with the broader 'Make in India' initiative.