Govt committed to promoting renewable energy, especially in MSME Sector: Gadkari

The Indian Government is committed to promote renewable energy resources in the country, especially in the MSME sector,” said Nitin Gadkari, Minister for Micro, Small and Medium Enterprises while addressing a webinar on “Atmanirbhar Bharat” – “Opportunities in Solar & MSME” organised by Indian People’s Forum in the United Arab Emirates.

He said that the MSMEs with good track record are now being encouraged for capital market. “The solar power rate in India is Rs.2.40 per unit and commercial rate of power is Rs.11 per unit and the cheap power generated through solar energy can be used for automobiles and other developmental works,” he adds. He exuded confidence that within five years, India will be top manufacturing hub for automobile in the world. He said, by making solar energy available, we will create big market for electric vehicles.

The Minister invited investors abroad to invest in Indian MSMEs and expressed hope that this will provide a number of opportunities to MSME sector to become the world’s largest manufacturing hub. Terming MSME sector as the backbone of the Indian economy, Gadkari said that the sector contributes around 30% in the country’s GDP and provides employment to over 10 crore people.