Role of Renewable Energy in Indian Economy

Renewable energy sources are non-conventional energy sources which are the need of the hour. Renewable energy sources contribute a lot in the reduction of green house gases emission along with having several socio-economic advantages when compared to carbon-based fossil fuels. Renewable energy sources are the answer to India's energy demands which are growing and are expected to grow exponentially in the future. Through the "Make in India" initiative of the Indian Government, Renewable Energy will account for significant job creation in urban areas as well as rural areas along with several other renewable energy policies which cover Solar Energy, Wind Energy among other renewable energy sources. Renewable energy is responsible for sustainable jobs resulting in a boon for the youth of India. This paper highlights the significance of renewable energy, impact of renewable energy on the social and economic landscape of India and the government initiatives for the promotion and expansion of renewable energy sources in the country.