India’s development is inherently tied to its energy independence. Today India spends a major portion of its foreign exchange earnings on oil imports to meet its energy needs. The Govt. of India energy policy includes development of domestic energy sources, including nuclear power. India is proactive in its thrust to develop alternative energy, particularly wind and solar.
Substantial progress has already been made in the wind power development but it still lags behind its vast potential. Solar power generation is at the beginning stage. Both these sectors are seeing a number of new ventures engaged in development and distribution of power but are by and large resource-constrained particularly with regard to equity and debt funding.