Foreign power cos shouldn’t operate here if their countries bar Indian cos: Goyal

Foreign power cos shouldn’t operate here if their countries bar Indian cos: Goyal

Coming down heavily on countries that don’t allow Indian companies to operate in their markets, Power Minister Piyush Goyal stressed there has to be a give and take mechanism between countries for the industry to flourish. He added that companies from such countries shouldn’t be allowed to operate or invest in India’s power sector.

“Reciprocity will be the rule. Either they open up for us, or we close down for them,” he told The Economic Times.

Earlier this year, the minister had stated that the investment potential of Indian power sector will be at Rs 15 lakh crore (USD 225 billion) in the next 4–5 years, thereby providing immense opportunities in power generation, distribution, transmission, and equipment. Also, around 293 global and domestic companies have committed to generate 266 GW of solar, wind, mini-hydel and biomass-based power in India over the next 5–10 years. The initiative would entail an investment of about USD 310–350 billion.

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Credit – Money Control

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