According to the Government of India, the renewable energy sector has received Foreign Direct Investment (FDI) valued at $ 1.75 billion during the last three years (as on 31 December 2012).
This was revealed at the Investment Promotion meet which happened in London recently. This event was organized by India’s Ministry of New and Renewable Energy in order to encourage investors to set up energy power projects in the country. Incentives offered included financial and fiscal advantages, preferential tariff or payment security mechanism.
Moreover, the government has also a policy to encourage transfer of foreign technologies, including those in renewable energy sector. According to India Energy [R]evolution report (jointly commissioned by environmental group Greenpeace, the Global Wind Energy Council and the European Renewable Energy Council), India’s renewable energy sector will create 2.4 million jobs by 2020. The sector currently employs 200,000 people.
For a detailed table with state-wise FDI during the last three years, click here
