Along with augmentation of power through solar, wind and nuclear methods, the country needs to upgrade its grids too, he said, adding that there were huge opportunities for building the "smart grid".
Smart Grid is a system that allows electricity supplier to monitor usage of home appliances using a two-way digital technology, thus, increasing energy efficiency.
"For India to continue on its path of aggressive economic growth, it needs to build a modern intelligent grid," he said, inaugurating a one-day seminar on smart grids organised by Consortium of Electronic Industries of Karnataka (CLIK) here.
While, blanket energy efficiency is important, India would greatly benefit from intelligent energy efficiency in the form of demand response and grid-responsive appliances, he said.
Renewable energy sources, when integrated into the grids, will help consumers determine operating costs, improve energy efficiency and prevent depletion of existing fossil and water resources, he said.
He said when it came to pushing forward renewable energy, differences among states and centre should not hamper the country from achieving its power generation goals.