According to report released by The Pew Charitable Trusts , India could attract as much as $ 169 bn in clean power project investments in the next decade and the annual clean energy investment in India is forecast to grow by as much as 763 percent over the next 10 years.
Within the G-20, India is on track to climb from tenth to third place in terms of clean power project investments worldwide, it said.
Enhanced clean energy policies would increase private investments in India by 48 percent, tied with the United Kingdom for the highest rate of increase in the G-20, the Pew report said.
It said under all policy scenarios, India, China, Japan, and South Korea will account for 40 percent of clean power project investments over the next 10 years.
Over the next decade, India is projected to increase its renewable energy generating capacity to 91 gigawatts, five times than what is currently installed, it said.
“The message of this report is clear: countries that want to maximise private investments, spur job creation, invigorate manufacturing and seize export opportunities should strengthen their clean energy policies,” said Phyllis Cuttino, director of the Pew’s Climate and Energy program.