Gujarat: PM Narendra Modi inaugurates RE-INVEST expo in Gandhinagar, says India is the best bet of 21st century

The 3-day summit honours the important contributors to India's remarkable achievement of over 200 GW of installed non-fossil fuel capacity.

Modi also took a walkthrough of the exhibition showcasing cutting-edge innovations from public and private sector companies, start-ups, and major industry players.

Addressing the gathering, the Prime Minister welcomed all the dignitaries to the 4th edition of the RE-INVEST Summit and expressed confidence that serious discussions will take place over the next three days on the future of energy, technology and policies.

Modi said that the discussions and learnings from this conference will benefit the entire humanity.

He conveyed his best wishes for successful discussions.

The Prime Minister underscored the mandate of the people of India to elect the same government for a record third time after sixty years.

“Aspirations of India is the reason behind the reelection of the government for the third term,” Modi remarked.

He highlighted the trust and confidence of the 140 crore citizens, the youth and women who believe that their aspirations will take new flight in this third term.

The Prime Minister underlined that the poor, dalits and the deprived believe that the government's third term will become a guarantee for a dignified life.

He said that 140 crore citizens of India are working with the resolve of making India the third-largest economy in the world.

"Noting that today’s event is not an isolated one but a part of the bigger vision, mission and action plan to make India a developed nation by 2047," the Prime Minister highlighted the decisions taken by the government in the first 100 days in office.

“Government’s work in the first 100 days highlights its priorities and gives a reflection of the speed and scale,” PM Modi remarked underlining that all sectors necessary for India’s fast-paced development have been emphasized.

In these 100 days, the Prime Minister said that multiple decisions have been taken to expand the physical and social infrastructure of the nation.

He informed that India is on the path to constructing 7 crore houses which is more than the population of many countries, while 4 crore houses have been handed out to the people in the last two terms.

He further stated the decision to create 12 new industrial cities, approval for 8 high-speed road corridor projects, launching of more than 15 semi-high speed Vande Bharat trains, the inception of a research fund worth Rs 1 trillion to promote research, the announcement of various initiatives to drive e-mobility, promotion of high-performance biomanufacturing and approval to Bio E3 policy.

Throwing light on the developments in the green energy sector in the last 100 days, the Prime Minister mentioned the initiation of a viability gap funding scheme for offshore wind energy projects worth more than Rs 7000 crore. He said that India is working towards producing 31,000 megawatts of hydropower in the coming times with an outlay of Rs 12,000 crore.

The Prime Minister said that India's diversity, scale, capacity, potential and performance are all unique and pave the way for Indian solutions for global applications.

“Not just India, the whole world is of the belief that India is the best bet of the 21st century,” exclaimed the Prime Minister.

Recounting the global events hosted by India in the last one month, Modi said that Global Fintech Fest was organized earlier in this month, people from across the globe participated in the First International Solar Festival, Global Semiconductor Summit, India also hosted the 2nd Asia-Pacific Civil Aviation Ministerial Conference and today India is hosting a conference of Green Energy.

Modi remarked that it was a happy coincidence that Gujarat which has witnessed the inception of White revolution, Sweet (Honey) revolution, Solar revolution is now seeing the organization of 4th Global Renewable Energy Investor’s Meet and Expo.

“Gujarat was the first state in India to have its own Solar Policy,” highlighted the Prime Minister. He added that National policies on solar followed after this.

Modi further highlighted that Gujarat was one of the front runners across the world in setting up a ministry pertaining to matters of climate.

He highlighted that Gujarat had already started setting up Solar plants when the world had not even thought of it.

The Prime Minister underlined that as a developing economy, India had a valid excuse to stay out of these commitments but did not choose that path.

He, however, added that “Today's India is preparing a base not only for today but for the next thousand years.”

Modi underscored that India’s aim was not just to reach the top, but to prepare ourselves to sustain at the top.

He added that India was very well aware of its energy needs and requirements to make it a developed nation by 2047.

Modi reminded India had decided to build its future on the basis of renewables like Solar Power, Wind Power, Nuclear and Hydro Power, as there was dearth of reserves of oil-gas.

The Prime Minister said India is the first G20 nation to achieve the climate commitments set in Paris, that too 9 years before the deadline.

Modi outlined the nation’s goals to achieve the target of 500 GW of renewable energy by 2030 and said that the government has turned the green transition into a people’s movement.

He suggested studying India’s unique scheme for Rooftop Solar - PM Surya Ghar Free Electricity Scheme where the government funds a Rooftop Solar Setup for every family and helps in installation.

Through this scheme, the Prime Minister said, every household in India becomes a power producer. He informed that more than 1 crore 30 lakh families have registered under the scheme and installation work has been completed in 3.25 lakh houses so far.

Drawing attention to the results of PM Surya Ghar Free Electricity Scheme, the Prime Minister explained that a small family which consumes 250 units of electricity in a month, generates 100 units and sells it back to the grid will save a total of about 25 thousand rupees in a year.

“People will benefit by about 25 thousand rupees from the electricity bill,” PM Modi said, noting that money saved is money earned.

He further added that if the saved money is invested in the Public Provident Fund for 20 years, then the whole sum would amount to more than Rs 10 lakh which can be used for children's education and marriage.

Modi further added that PM Suyra Ghar scheme is becoming a medium of employment generation and environment protection generating around 20 lakh jobs.

PM Modi informed that the government aims to prepare 3 lakh youth as skilled manpower under this scheme.

Out of these, one lakh youth will be Solar PV Technicians.

“Every 3 kilowatts of solar electricity generated will prevent emission of 50-60 tonnes of carbon dioxide,” he said, noting the contributions of every family in fighting climate change.