Union Budget 2025 | Focus on clean energy, sustainability to push sector growth: Industry

New Delhi: The renewable energy industry has hailed the Union Budget 2025-26, saying the focus on clean power, manufacturing, and sustainability will push the sector's growth.

Union Finance Minister Nirmala Sitharaman presented her record eighth straight Union Budget in the Lok Sabha on Saturday.

Vineet Mittal, Chairman of Avaada Group said strategic initiatives like global manufacturing clusters and clean tech advancements under National Manufacturing Mission will position India as a global industrial powerhouse.

Sumant Sinha, Founder, Chairman & CEO, ReNew said the Rs 20,000 crore allocation for nuclear energy and proposed legislative reforms demonstrate a forward-thinking approach to energy security and decarbonization.

Nikhil Sawhney, Managing Director, Triveni Turbines said, "We see these initiatives as a catalyst for innovation, sustainability, and self-reliance, reinforcing India's leadership in advanced energy solutions." Sharing his views, Abani Jha, CFO, Saatvik Green Energy said the government’s continued focus on strengthening domestic manufacturing of solar cells, modules, and grid-scale batteries aligns with Saatvik Green Energy’s vision of making India self-reliant in solar technology and reducing dependency on imports.

UTL Solar CEO Yogesh Dua said the increased focus on rooftop solar is essential for meeting the national energy security and sustainability objectives. The government has allocated Rs 20,000 crore to flagship rooftop solar initiative (PM Surya Ghar Muft Bijli Yojana), reflecting a robust commitment to sustainable energy and environmental stewardship.

Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical said the proposal to fully exempt basic customs duty on lithium-ion battery (LiB) scrap, along with critical minerals such as lead and zinc, is a transformative policy intervention. This move will not only streamline cost-efficient recycling processes, and ensure a steady supply of essential raw materials, but also enhance their accessibility for domestic manufacturers.

On the budget, Waaree Energies Whole-Time Director & CEO Amit Paithankar said "The announcement of the National Manufacturing Mission, along with enhanced PLI schemes and tariff rationalization for critical minerals will support the rapid growth of the entire renewable energy ecosystem.

Mamtamayi Priyadarshini, Chairperson, Indian Industries Association - Delhi Chapter - said, the increased loan limits for MSMEs and startups will serve as a lifeline across the industries.

Parag Sharma, CEO & Founder of O2 Power said beyond the measures announced to boost renewable energy sector in the budget, the industry needs a comprehensive approach that includes land reforms, grid security, and faster execution of power purchase agreements imperative to accelerate India's clean energy transition.

Rajeev Kashyap, SVP and General Manager for Nextracker India, Middle East and Africa said the focus on boosting domestic manufacturing of key components like grid-scale batteries, electrolysers, and solar cells is a critical enabler for the renewable energy sector. This will not only reduce dependence on imports but also drive down costs, making clean energy more accessible.

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Union Budget 2025 | Nirmala Sitharaman, as Finance Minister, presented her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', the Modi govt gave income tax relief for those making up to Rs 12 lakh per year in salaried income. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.