As India prepares for the Union Budget 2026, the renewable energy sector is looking for strategic policy support to meet its ambitious green energy targets. Mr. Prashant Mathur, CEO of Saatvik Green Energy Limited, has emphasized that the Indian solar industry is on the verge of a "quantum leap," projected to grow from 135 GW in 2025 to over 300 GW by 2030.
Key Expectations for Budget 2026:
Upstream Manufacturing Focus: Mr. Mathur strongly advocated for an enhanced Production Linked Incentive (PLI) scheme specifically targeting polysilicon, ingot, and wafer manufacturing. This move aims to reduce India's heavy reliance on imports, particularly from China, which currently controls over 80% of global production.
Fiscal Incentives: The CEO urged the government to introduce accelerated depreciation benefits for solar manufacturing equipment and reduced corporate tax rates for manufacturers to improve capital efficiency.
Financial Support: To enhance global competitiveness, the industry is seeking preferential lending rates through Priority Sector Lending (PSL).
"These comprehensive policy measures will be instrumental in building a self-reliant, globally competitive solar manufacturing ecosystem that truly embodies Atmanirbhar Bharat," stated Mr. Mathur.