Supply Chain Sovereignty: Goyal Calls for Energy Storage Independence Amid Global Disruptions

Image Source: The Economic Times

Commerce and Industry Minister Piyush Goyal has urged India’s energy storage sector to reduce its reliance on imports from select geographies, particularly China, and instead focus on building resilient domestic supply chains. Speaking at a national energy storage forum, Goyal emphasized the need for innovation, self-sufficiency, and strategic diversification.

Key Takeaways From the Minister’s Address

- Industry players were advised to explore alternative sourcing models and reduce dependency on restricted supply routes
- Goyal highlighted the impact of China’s export curbs on rare earth magnets and fertilizers, which are affecting auto and agri sectors
- He called for accelerated R&D in battery technologies and indigenous manufacturing of semiconductors and critical minerals
- Stakeholders were encouraged to collaborate on EV charging and battery swapping infrastructure to support faster adoption
- The minister cited India’s renewable energy progress, noting a 4,000 percent rise in installed solar capacity and a 38-fold jump in module manufacturing

Strategic Context and Policy Alignment

- The remarks align with India’s National Critical Mineral Mission and Production Linked Incentive schemes for clean tech
- Goyal’s push for supply chain resilience comes amid global calls for de-risking and reshoring in strategic sectors
- The government is actively supporting domestic capacity building through fiscal incentives and regulatory reforms

Outlook

As India scales its clean energy ambitions, the energy storage industry is expected to play a pivotal role in ensuring energy security and economic competitiveness.

Sources: The Hindu Business Line, Rediff Moneynews, Devdiscourse, Economic Times, PTI, MSN India