Watershed Moment In India's Journey Toward Clean Energy, Say Experts

New Delhi: Industry experts hailed steps for boosting clean energy like nuclear mission, incentives for critical minerals and renewable equipment in the Budget presented on Saturday by Union Finance Minister Nirmala Sitharman.

Sitharaman announced a Rs 20,000-crore nuclear mission and duty exemptions for crucial minerals and capital goods for electric vehicles to step up energy transition.

Rajat Verma, Founder & CEO, LOHUM said, “The 2025 budget marks a watershed moment in India's journey toward clean energy sovereignty and circular economy leadership. The government's strategic vision for domestic manufacturing and critical minerals recycling demonstrates remarkable foresight in securing our sustainable future."

The elimination of import duties on lithium-ion battery scrap, cobalt powder, and an array of critical mineral wastes unlocks unprecedented opportunities. Coupled with the duty exemption expansion to 63 additional capital goods for EV and mobile battery production, this creates a robust foundation for India's manufacturing renaissance, he opined.

The landmark Rs20,000 crore investment in private-sector R&D for emerging technologies signals a transformative shift in building a sustainable critical minerals ecosystem, Verma said.

Devansh Jain, Executive Director, INOXGFL Group said, "The emphasis on wind energy, the National Green Hydrogen Mission, and EV infrastructure, along with dedicated support for Clean Tech manufacturing, marks a transformative step toward sustainability."

By fostering domestic value addition in solar PV cells, EV batteries, motors, controllers, electrolysers, wind turbines, high-voltage transmission equipment, and grid-scale batteries, the budget strengthens India's clean energy ecosystem, he stated.

Investments in offshore wind capacity, green hydrogen production, and hybrid renewable projects will drive innovation, job creation, and economic growth, he opined.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd said that the Budget 2025 announcements are a shot in the arm for consumption, which will in turn drive demand and then manufacturing in the private sector.

The National Manufacturing Mission, the focus on clean technology and measures to support startups and MSMEs are welcome steps, he said. With a 10 per cent increase in Capex spending in infrastructure over the revised estimates, the Government stays on course in its commitment of building a world class infrastructure in the country, he added.

Bikesh Ogra, MD & CEO, Jakson Green said,"Crucially, the budget emphasises power sector reforms, incentivising states to modernise distribution and transmission infrastructure, that is, essential for seamlessly integrating RE sources into the grid and ensuring a stable power supply. The proposed PPP model for infrastructure development, coupled with substantial interest-free loans, will catalyse investments in RE projects."