• India has achieved the third position globally in installed renewable energy capacity, with its non-fossil fuel capacity now exceeding 50% of the total installed capacity, reaching 262.7 gigawatts, primarily driven by solar and wind energy additions.
• While India's renewable energy transition promises reduced external dependence, its full success hinges on the rapid localization of critical components like solar cells, wafers, and polysilicon, as the country still imports a significant portion of these, particularly from China.