Daily Mirror.NewsJuly 23rd, 2024:”As expected, the 2024 union budget prioritizes solar and renewable energy sectors. Notably, the PM Suryaghar Muft Bijli Yojana, which intends to install ten million rooftop solar panels, is a big step forward. This approach could substantially assist Indian solar PV module makers. Furthermore, eliminating solar glass, glass, and copper wire connectors from the customs duty exemption list is a wise decision. This move is critical for boosting the home sector.

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.