"Bharat Cleantech Manufacturing Platform" Unveiled by the Centre

Nitin Konde, Varun Bhardwaj

Jan 14, 2025 — 2 min read

Centre Unveils the Bharat Cleantech Manufacturing Platform

The 'Bharat Cleantech Manufacturing Platform' was launched by Commerce Minister Piyush Goyal. In order to promote cleantech manufacturing in the nation across industries like solar, wind, hydrogen, and battery storage, the platform will attempt to bring together players from policy, industry, finance, and research. The project was created to strengthen India's cleantech value chain, according to an official release. Goyal made the announcement of the new platform on January 11, during the Bharat Climate Forum 2025 event in New Delhi. The minister also encouraged the audience to "think innovatively and increase manufacturing scale" in the nation during his remarks. According to him, the platform's launch will give Indian businesses a chance to work together and co-innovate. He went on to say that the new project will provide a way to exchange resources, ideas, and technology as well as to finance projects. According to him, this would make India a compelling commercial case and a world leader in cleantech and sustainability.

The Sprawling Nexus of Cleantech Startups

Goyal also stated during the launch that subsidies and production-linked incentives (PLIs) are harmful to the renewable energy industry's long-term expansion. The trade minister stated that the cleantech industry should aim to become self-sustaining and "independent of the government," adding that such measures were crucial to only help launch the sector. The remarks coincide with the emergence of numerous cleantech startup companies in India to tackle environmental issues and develop creative ways to strike a balance between the demands of sustainability and economic growth. Electric cars, rooftop solar energy harvesting, organic waste management, and even air and water purification are some of these services.

Encouraged by the government's initiative, PLI, and businesses' increasing emphasis on environmentally responsible practices, the sector has also seen a substantial increase in investor interest. With $829 million raised from 75 agreements, the Indian cleantech ecosystem ranked as the sixth most funded industry in 2024.

Investors Pouring Funds in Cleantech Startup Sector

SolarSquare, a firm providing rooftop solar solutions, raised $40 million in its Series B fundraising round in December, with Lightspeed leading the deal. Last month, Zunroof also raised over $2.3 million in a round headed by ANBG Enterprise LLP, the Godrej family office. Kazam, a cleantech firm, raised $8 million in its Series A3 fundraising round in August of last year. Vertex Ventures Southeast Asia and India led the deal. India Accelerator launched a new vertical last year to support Indian cleantech firms, demonstrating the level of interest in the industry. All things considered, by 2040, the Indian cleantech market might be worth $41 billion.