April 22, 2016

Govt taking necessary actions to sustain current economic growth

Union Minister of State for Power, Coal and New and Renewable Energy PiyushGoyal said that Indian Government is taking necessary actions to sustain the current economic growth of India and that major initiatives were being taken to make the economy more business friendly

Talking at the launch of International Solar Alliance Friday, Goyal urged investors to take advantage of three Ds – democracy, demography and demand – which India has provided.

PiyushGoyal said this in the launch of programmes under International Solar Alliance today at the United Nations in New York, where he is accompanied by an official delegation which includes Secretary, Ministry of New and Renewable Energy and Joint Secretary, Ministry of New and Renewable Energy.

Goyal met with Stephen Schwarzian the Chairman, CEO and Co-Founder of Blackstone Group over lunch and discussed about investment opportunities in India and the transparent policy regime that the Government under Prime Minister Narendra Modi has ushered in.

Goyal also held meetings with Jack Kutner, CEO Big Belly, Richard Kauffman, Chairman of Energy and Finance, Office of the Governor of New York, SaurabhAgarwal of Warburg Pincus and Alfred Griffin, President of the New York Green Bank.

He also addressed a meeting of large number of American investors and developers in the field of Renewable Energy which was jointly organized by Confederation of Indian Industry (CII) and US-India Business Council (USIBC) in the evening.

Earlier, Goyal had held interactions with print and electronic media at the Consulate General of India, New York.

Goyal highlighted the achievements of the Government and said that India is committed to implement the promises made by Prime Minister Modi in his discussions with the business dignitaries.

He briefed about various steps undertaken by the Government to improve energy access, rapid scale up of renewable energy, enhancing grid reliability, integration of renewable in the grid and the massive opportunity presented by the untapped demand in the Indian market.

Speaking on UjwalDiscom Assurance Yojana (UDAY), Goyal stressed upon the steps being taken to bring a drastic change in India’s power sector that can take India to double digit growth trajectory in the economy.

While addressing the meeting he said that India already has surplus power and demand stimulation through UDAY, coupled with the growth in the Indian economy will quadruple electricity consumption by 2030.

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