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Renewable energy technologies except for large hydroelectric power have, until recently, played a marginal role in most of the countries in terms of energy supply mix and it is no different in developing nations such as India. Global concerns about excessive consumption and mitigation efforts have put Renewable Energy Technologies on centre stage not merely because of their novelty but out of necessity. In this paper we attempt to put in perspective the opportunities and challenges that these emerging technologies face in a wide range of situations afforded by different countries in the region. Approach taken by different countries is analyzed with a peep through the recent historic information and its influence on present and future developments. An attempt is made to estimate future role of the renewable energy technologies in the energy market.