We Have to Stand on Our Comparative Advantage, Not Look up to the Govt for Everything: Piyush Goyal

With an abundance of renewable energy available in India at a lower rate, the Indian automobile sector can become an integral part of the electric mobility ecosystem and explore global opportunities even without any subsidies, said Union Minister for Commerce and Industry Piyush Goyal at the CII Annual Business Summit 2025 on Thursday in New Delhi.

Underscoring India's growing credibility on the global stage, the minister highlighted the country's commitment to clean energy, electric mobility, and inclusive growth as critical pillars of its economic strategy. The minister pointed to the country’s accelerating clean energy transition, noting that solar and wind power, combined with storage, are now available at Rs. 3.30 per kilowatt-hour—one of the lowest rates globally. With this development, India has become “a compulsive place for data centres to come,” owing to both affordability and a vast interconnected power grid.

With the interconnected national power grid and competitive tariffs, India has now been uniquely positioned to become a hub for future-ready infrastructure, including data centres, he added. Highlighting India’s progress in electric mobility, the minister acknowledged that the shift to electric vehicles (EVs) has now become economically viable without subsidies for vehicles across various segments, including buses, taxis, and logistics vehicles.

India’s renewable energy leadership along with an increasing focus on electric mobility, not only cater to the environmental imperatives, but has the potential to create a strong economic incentive, mentioned Goyal. India's journey to attain its several sustainability goals has aligned with its economic causes and thus, according to the minister, "Our effort to promote electric mobility has started bearing fruit. And this is something that, once we reach the inflection point, will have a galloping effect as more and more people recognise that it's not about sustainability alone. It's an economic case."

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He urged people to grab this opportunity to get better global exposure and said “not to lose our focus on greater engagement with the world, not look up to the government for everything. We have to stand on our competitive and comparative advantages. That is what is going to make India a big force in the world.”

Goyal drew attention to the country’s rapid progress in renewable energy deployment, saying that India's commitment to clean energy is not only a climate imperative but also a compelling economic proposition.

Goyal’s remarks come at a time when India is actively engaged in trade negotiations with several countries, including the EU, and the US where non-tariff issues such as green standards, labour norms, and digital trade have gained significant attention.