India’s union minister of state (I/C) for power, coal and renewable energy, Piyush Goyal met select institutional investors and sovereign funds of Singapore-Temasek & GIC and discussed investment opportunities in India’s energy sector. The minister also apprised the Singaporean investors community of the accelerated pace of reforms and initiatives of the government back home.
Goyal is in Singapore leading a high- power delegation from the Federation of Indian Chamber of Commerce and Industry (FICCI). He also gave a keynote address at the Deutsche Bank annual economic conference that saw a presence of over 250 investors. Besides, senior brass of the Ministry of Power, and other officials are also accompanying Goyal.
“I do feel that the mood is very favourable for India. They (investors) can see the India story structurally improving. They can see the demand that India provide and to my mind India can look forward to good investments coming from Singapore,” said the Coal, Power and Renewable Energy Minister Piyush Goyal.
Goyal said that the biggest achievement of the Government was changing the mind-set of the people and instilling confidence that India can change for the better. He remarked that pessimism and cynicism has been replaced by optimism, hope and confidence. The minister accepted Singapore’s invitation to India to raise more funds from the island city’s vibrant financial centre.
The enthusiasm of the Singaporean investors is evident from an announcement by Singapore Manufacturing Federation to send delegations to Mumbai and Indore in October this year.
Singapore manufacturing Federation will also be participating in two exhibitions in July, AMTEX in New Delhi and Last Mile Fullfilment India in Mumbai.
The Minister was hosted to a lunch by Singapore’s Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, Tharman Shanmugaratnam. The two leaders discussed bilateral relations, and regional and global issues of mutual interest.
Goyal also delivered the Keynote Address at the India-Singapore Energy Technology & Investors Meet which was jointly organised by the High Commission of India, FICCI, Singapore Manufacturing Federation (SMF) and The Institute of South Asian Studies (ISAS).
The Minister visited the ITE College Central and undertook a walking tour of the facilities including the Retail Merchandising Training Centre and The Design Excellence Centre. At the ITE College Central, the Minister was briefed about the skill training conducted by the ITE in different sectors. He outlined a plan to replicate ITE’s success on a grand scale in India and involve the private sector in opening 21 such centres across India. This will provide world class skill development and generate massive employment in India.
Goyal briefed about the various steps taken by the Government to improve energy access, rapid scaling up of renewable energy, integration of renewable energy in the grid, enhancing grid reliability and the massive opportunity presented by the untapped demand in the Indian market.
He outlined the steps being taken to achieve energy access and mentioned about programmes like the LED programme for enhancing energy efficiency, National Solar Mission and UDAY (Ujwal Discom Assurance Yojna) program.
The minister also outlined the steps being taken by the Government in other sectors like education, healthcare, infrastructure development, industry & agriculture and empowerment of people and said that India would soon be achieving a double digit growth rate.