Intro – Clean Energy Can Support India’s Economic Recovery post-Covid-19, says NITI Aayog and Rocky Mountain Institute (RMI) report.
New Delhi: NITI Aayog and Rocky Mountain Institute (RMI) has released Towards a Clean Energy Economy: Post-Covid-19 Opportunities for India’s Energy and Mobility Sectors report, which advocates for stimulus and recovery efforts that work towards building a clean, resilient, and least-cost energy future for India. These efforts include electric vehicle, energy storage, and renewable energy programs.
The report identifies how Covid-19 is beginning to influence the clean energy transition in India, specifically for the transport and power sectors, and recommends principles and strategic opportunities for the country’s leaders to drive economic recovery and maintain momentum towards a clean energy economy.
Covid-19 has presented significant demand- and supply-side challenges for India’s transport and power sectors, from liquidity constraints and supply shortages to shifts in consumer demand and preferences.
“India’s strong democratic institutions promote policy stability. Ongoing economic reforms, if executed well, should keep the country’s growth rate ahead of peers,” said Rajiv Kumar, Vice Chairman, NITI Aayog.
“Clean energy will be a major driver of India’s economic recovery and international competitiveness,” added Amitabh Kant, CEO, NITI Aayog. “We must look at how to leverage our domestic innovation ecosystem to bring value to the country and industry in this new normal. We have recommended specific actions by which India can revive two of our economic powerhouses—the transport and power sectors—and emerge stronger,” he added.
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