India will continue to be the fastest-growing economy, says Tata group chairperson

New Delhi (The Uttam Hindu):Tata Group Chairperson N. Chandrasekaran highlighted India's impressive progress in renewable energy and digital infrastructure two key global transition sectors. Addressing the NIT Trichy’s Global Alumni Meet 2025 in Chennai, Chandrasekaran emphasized that India had reached 214 GW of installed green energy capacity by 2024, with plans to meet its ambitious goal of 500 GW from non-fossil fuels by 2030. He also noted that renewable energy now makes up 45 percent of India’s electricity, a significant increase from 30 percent a decade ago. However, he pointed out the global challenge of reducing carbon emissions by 43 percent this decade to meet the Paris Agreement’s 1.5-degree Celsius target. Between 2019 and 2024 global emissions had instead increased by 3.3 percent.

Chandrasekaran praised the success of the PM Surya Ghar Muft Bijli Yojana, which has already achieved over 6.85 lakh solar installations. This scheme is poised to exceed a decade's worth of solar growth in just one year, reaching 86 percent of the installations made in the previous decade. The Tata Group Chairperson also lauded India’s digital infrastructure, describing it as world-leading. He pointed out the strength of India’s digital systems, including its payment systems, Aadhaar, healthcare platforms, settlement systems and retail banking. He emphasized that India’s digital innovations are backed by exceptional talent. Chandrasekaran also reassured that despite a slight moderation in economic growth this year, India would continue to be the fastest-growing economy globally. He predicted 2025 would be a "phenomenal year for AI," with significant investments expected in small language models (SLMs) while large language models (LLMs) would also play a key role in the coming year. His remarks highlighted India’s leadership in both renewable energy and digital innovation, underscoring its continued progress on the global stage.