June 3: India’s renewable energy equipment sector is poised for strong long-term expansion, with market opportunities projected to reach nearly $400 billion by 2035, driven by the country’s accelerating clean energy transition, according to a recent industry report.
The growth outlook is supported by rising investments in solar, wind, battery storage, and grid modernization as India advances toward its net-zero commitments. Expanding domestic manufacturing capacity under government-led initiatives is also expected to play a key role in reducing import dependence and strengthening supply chains.
Industry analysts highlight that policy support, including production-linked incentives (PLI), renewable energy targets, and large-scale green infrastructure projects, is encouraging both domestic and global players to invest in India’s clean energy ecosystem.
The report notes that increasing electricity demand, electrification of transport, and rapid industrial expansion will further drive demand for renewable equipment over the next decade.
With sustained policy backing and private sector participation, India is expected to emerge as a major global hub for renewable energy manufacturing and deployment, reinforcing its leadership in the global clean energy transition.