India, Feb. 23 -- India is well-positioned to be the world's third-largest economy by 2027 and a developed nation by 2047, "with power sector driving this transformation", said Union power minister Manohar Lal on Saturday, underlining the Modi's government's commitment to energy security, grid modernisation, and sustainability in line with making India a development nation by 2047.

"The electrical and electronics manufacturing industry will be key in scaling clean energy, advancing grid modernisation, and strengthening transmission networks. With over 200 gigawatts (GW) of renewable energy capacity already installed and a target of 500 GW by 2030, India is making rapid progress," the minister said, inaugurating 16th edition of ELECRAMA, ...