The Political Economy of Renewable Energy in India: How Policy, Politics, and Market Forces Shape the Transition to Sustainability

Abstract

India, one of the world's fastest-growing economies, faces a dual challenge of meeting its increasing energy demands while mitigating environmental degradation and climate change. The transition to renewable energy is pivotal for achieving sustainable development. This article explores the political economy of renewable energy in India, examining how policy frameworks, political dynamics, and market forces interact to shape the country's energy transition. By analysing the historical evolution of renewable energy policies, the role of state and non-state actors, and the influence of global and domestic market forces, this article provides a comprehensive understanding of the opportunities and challenges in India's renewable energy sector. The study concludes with policy recommendations to accelerate the transition to a sustainable energy future.