365Telugu.com online news July 23rd, 2024:”As anticipated, the 2024 union budget highlights the priority given to the solar and renewable energy sectors. Notably, the PM Suryaghar Muft Bijli Yojana, which aims to install ten million rooftop solar panels, stands out as a significant advancement.
This initiative could greatly benefit India’s solar PV module manufacturers. Furthermore, removing solar glass, glass, and copper wire connectors from the custom duty exemption list is a prudent measure. This decision is crucial to supporting the burgeoning domestic industry.
Nevertheless, additional efforts are needed to accelerate the full development of manufacturing capabilities, for the entire manufacturing process (that is from polysilicon manufacturing to module assembly), which requires urgent support in areas like labor regulations, technology imports, land, and infrastructure.
Swift action on these fronts is essential for India to meet its ambitious domestic production targets amidst numerous ongoing projects.”
“Pumped storage for power is another vital area with the potential for substantial savings and more efficient power generation utilization. We expect the new policy introduced by the Finance Minister in today’s budget to attract further investments and create new opportunities for manufacturers.” -Mr. Visweswara Reddy, Chairman & Managing Director, Shirdi Sai Electricals Limited Group.