The Aryavarth Express
Davos (Switzerland): The rapid expansion of renewable energy in India has emerged as a benchmark for the global community, said Pradeep Kumar, Chairman and Managing Director of the Indian Renewable Energy Development Agency (IREDA), at the World Economic Forum (WEF) in Davos on Wednesday.
Addressing participants at the summit, Kumar said the clean energy ecosystem built by the Indian government over the past decade has created a strong and investor-friendly environment for green power projects. He noted that India’s renewable energy journey offers valuable lessons for global players looking to scale up sustainable energy.
“We have come here to share the ecosystem that the Government of India has built over the last 10–11 years. The way renewables have grown in India is an example for any global player,” Kumar said. Highlighting the sector’s performance, he added that India’s renewable energy sector has recorded a compound annual growth rate (CAGR) of 22.5 per cent over the last five years, a pace rarely seen across industries.
Kumar further pointed out that growing investor confidence has attracted significant foreign investment into India’s green energy space. He underlined IREDA’s role in this transformation, calling it the country’s leading agency for renewable energy financing and the largest pure-play green finance company in India.
Meanwhile, Union Minister Ashwini Vaishnaw said the World Economic Forum serves primarily as a platform for exchanging ideas rather than conducting formal trade negotiations. He noted that while India remains in close contact with major global economies, delegation-level trade discussions usually take place through separate bilateral channels.
Responding to queries about meetings with the US delegation, Vaishnaw said that Davos typically facilitates panel discussions and bilateral interactions, while trade negotiations follow their own structured timelines. He added that India is actively engaging with major economies across multiple fronts.
The progress of the Indian economy under the leadership of Prime Minister Narendra Modi has become a key topic of discussion at the summit. Vaishnaw said the Indian delegation is participating in major meetings to highlight how the country is leveraging modern technology to drive inclusive and sustainable growth.
