India is establishing itself as a key player in electro-tech manufacturing to secure energy independence, as highlighted in a report by the World Economic Forum (WEF). The country’s shift towards industrializing with affordable solar and battery technologies, rather than relying on fossil fuels, is catching the attention of other emerging markets. Unlike China’s past reliance on coal, India now generates 9% of its electricity from solar power and uses significantly less coal per capita.
By 2025, India is projected to generate a quarter of the coal per person compared to previous years, with solar energy playing a crucial role in its energy mix. The country’s transition to electric vehicles is also noteworthy, with electric car sales approaching 5% and electric three-wheelers dominating the market at nearly 60%. This shift towards sustainable energy sources has led to electricity accounting for almost 20% of final energy consumption in India, aligning it with other advanced economies.
India’s strategic focus on electro-tech manufacturing has resulted in a substantial growth in the electronics industry, reaching $130 billion over the past decade. The country’s expertise in smartphone production has extended to solar panels, batteries, and electric vehicles. Notably, India’s solar module production has increased twelve-fold to 120 GW, ensuring self-sufficiency in this sector. With advancements in cell manufacturing and the rise of battery and electric vehicle production, India is poised to become a major supplier of electro-tech products globally.
