Govt has ‘Holis­tic Vi­sion’ to make it eas­ier to do busi­ness in In­dia: Goyal

Resource Digest - - CONTENTS -

Union min­is­ter Piyush Goyal has said that the govern­ment has a "holis­tic vi­sion" to make it eas­ier to do busi­ness in In­dia and is work­ing to en­sure that ev­ery house­hold in the coun­try has ac­cess to en­ergy in two years.

The min­is­ter of state for power, coal, re­new­able en­ergy and mines was in Lon­don for the In­dia-uk Roundtable on En­ergy. He said that he has taken a "per­sonal pledge" to work to­wards en­ergy ac­cess for ev­ery house­hold in In­dia by 2019.

"We are work­ing on so­lu­tions to hit our tar­gets be­fore 2022, as the In­dian govern­ment cre­ates the foun­da­tions with a 100year horizon in view," Goyal said at the Uk-in­dia Con­clave. Ear­lier, he launched the state-run Na­tional Ther­mal Power Cor­po­ra­tion's ru­pee-de­nom­i­nated 'Masala Bond' on the Lon­don Stock Ex­change (LSE), which has raised around Rs 2,000 crore.

"We listed the NTPC Masala Bond at the Lon­don Stock Ex­change, which is a sign of the scale in In­dia. In the long run, the ru­pee will be a cur­rency with the most sta­ble ex­change rate. We are on the path of growth and we want the rest of the world to be our part­ners in that growth," he said on the side­lines of the Uk-in­dia Awards. "Come to In­dia with good ideas," he told the au­di­ence at the event or­gan­ised by the Uk-based In­dia Inc Ltd.

Lead­ing Bri­tish and In­dian firms won awards for their work in the Uk-in­dia space dur­ing the event. Dur­ing his UK stay, Goyal launched his min­istry's En­ergy Ef­fi­ciency Ser­vices Lim­ited (EESL) ex­pan­sion plans in the UK. He ex­tended EESL'S af­ford­able light­ing scheme UJALA (UK Joins Af­ford­able LEDS for All) to con­sumers in the UK, with the In­dian high com­mis­sion in Lon­don be­com­ing the first In­dian mis­sion in the world to adopt the pro­gramme.

EESL be­gan its op­er­a­tions in the UK with ac­qui­si­tions worth around $6.8 mil­lion of two op­er­at­ing com­pa­nies run­ning En­ergy Sav­ings Per­for­mance Agree­ments in the ed­u­ca­tion and leisure sec­tors. The ac­qui­si­tion was ef­fected by EPAL, a joint ven­ture of EESL and En­er­gypro Lim­ited, an ad­vi­sory com­pany spe­cial­is­ing in en­ergy ef­fi­ciency. EESL claims to have retro­fit­ted over 230 mil­lion LED bulbs and 2 mil­lion smart LED street lights across In­dia through self-sus­tain­ing com­mer­cial mod­els.

In the UK, it has plans to in­vest £100 mil­lion over three years to im­ple­ment low-car­bon, en­ergy ef­fi­ciency and re­new­able en­ergy so­lu­tions in both the pub­lic and pri­vate sec­tors. EESL also plans to for­malise its col­lab­o­ra­tion with UK- based so­lar en­ergy equip­ment sup­plier Cen­er­gist.


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