Sitharaman requests the industry to set the standards in renewable energy

Finance Minister Nirmala Sitharaman urged the industry to set standards when it comes to renewable energy and rare earth.

Addressing the national executive committee meeting of the industry body FICCI, she said that "the industry is at the front for any policy-making. It is only through exchanges such as this that make the policies are responsive. The industry has to come up with the prevailing dynamic picture. The industry will determine how India moves forward on the green hydrogen mission. It need not be that the government should be the prime mover. The government has set a benchmark for how we are growing".

Industry, she said, should highlight its potential and share it with the government on a regular basis which will facilitate policy intervention by the government.

"I would want the industry to be the prime mover as regards the latest frontiers in renewable energy, rare earth materials, conversion of all these towards usable technologies," the Finance Minister added.

Speaking on the payments to micro-small and medium enterprises or MSMEs, Sitharaman urged the industry to facilitate payments to the sector within the contract period.

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