India on way to become largest green energy producer: Suresh Prabhu

Prabhu said India will become the largest producer of energy from renewable sources including solar and wind

India is on its way to soon become the world's largest producer of green energy even as the nation takes innovative steps to bridge the supply gap from conventional energy sources, said railway minister Suresh Prabhakar Prabhu.

"While the rest of the world is currently faced with the challenge of weak demand, India has a huge unmet demand despite global overcapacity. India needs a strategy to increase supply in innovative ways," Prabhu said speaking at the All India Management Association (AIMA) Management Awards 2016.

Prabhu, who is known for drafting India's Electricity Act of 2003, gave the example of India's initiative to increase supply of energy through the renewable sources as India was short on conventional fuels. He said India would become the largest producer of energy from renewable sources including solar and wind.

 

Read more from our special coverage on "SURESH PRABHU"

• Is there deliberate misinformation on bullet trains, asks Suresh Prabhu
• Prabhus day out with high-speed train in Paris
• Indian Railways mulls incubators to promote start-ups

According to Prabhu, the uncertainty in the market coming from "externalities" was a key challenge for Indian companies. "Nobody seems to know what is happening as what is happening thousands of miles away can affect any business," he said.

He added that even at G20 meetings, the challenge is currently to understand the uncertainty and manage the future of the national and global economy.