The Union Minister for New and Renewable Energy and Power, Shri R. K. Singh, announced that India was ranked 46th in the "Frontier Technologies Readiness Index" of the United Nations Conference on Trade and Development's (UNCTAD) "Technology and Innovation Report 2023." The report evaluates countries' readiness to adopt cutting-edge technologies.
In response to a question in the Lok Sabha, the Minister stated that the Indian government conducted a comprehensive review of the research and development (R&D) landscape towards green energy transition in collaboration with an external panel of experts led by Dr. Anil Kakodkar, Former Chairman of the Atomic Energy Commission. The committee identified key research areas with the goal of increasing the share of renewables in the country's energy mix.
As a result of the committee’s recommendations, the Renewable Energy Research and Technology Development Programme (RE-RTD) has been extended from 2021-22 to 2025-26. The program carries a budget of Rs. 228.00 crore and is channeled through research institutions and industries. It fosters the creation of indigenous technologies and manufacturing processes for efficient and cost-effective utilization of renewable energy.
The ministry provides significant financial support to these endeavours. Government and non-profit research organisations may receive up to 100% funding, whereas industry players, startups, private institutes, entrepreneurs, and manufacturing units may receive up to 70% funding. India's pursuit of innovative renewable energy solutions demonstrates its commitment to long-term development and technological progress. Shri R. K. Singh provided this information in a written response to a parliamentary inquiry, demonstrating the government's proactive stance in driving a greener, more energy-efficient future.