New Delhi, Feb 22 : Union Power Minister Manohar Lal on Saturday urged industry stakeholders to focus on innovation and modernisation to help India achieve its ambitious renewable energy (RE) target.

Speaking at the ‘Elecrama 2025’ event organised by the industry body Indian Electrical and Electronics Manufacturers' Association (IEEMA) in Greater Noida, the minister emphasised the importance of the power sector in driving the country's economic growth.

"The future of power in India is good. In this journey, we need to increase production in an innovative way,” Lal told the gathering.

He added that advanced power electronics, efficient transformers, power converters, smart grid solutions need to be developed to take benefit of green energy.

The minister called for collaborative efforts between the industry and the government to make the sector a key engine for India's development.

“India is working towards achieving 500 GW of renewable energy capacity by 2030. This goal is within reach if both the industry and the government work together efficiently,” the minister added.

Since 2014, India has significantly expanded its renewable energy capacity, increasing it 2.81 times to 200 GW.

“Solar capacity alone has grown 38 times, surpassing the 100 GW milestone. This progress is not just statistical growth but a clear indication that India is racing ahead in the energy sector,” Lal mentioned.

He also stressed the importance of improving the country's power transmission and distribution network, urging industry players to focus on developing high-efficiency equipment such as Gas Insulated Switchgear (GIS) substations to modernise the grid.

“Advanced infrastructure would help make the power sector more reliable and sustainable,” the Union Minister noted.