India Looks Towards Canadian Investments for Power

By admin • September 20th, 2010

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India’s Power Minister Sushilkumar Shinde is looking towards Canadian firms to invest in India’s power sector. The Minister said the government expects the private sector to contribute around 40% of total investments during the 12th Five Year Plan period (2012-17).

The Minister, who was speaking at a function organised by Carleton University in Ottawa, said “India’s power sector presents an opportunity for investment in all its segments as we seek to not only put in greater capacities but also strive to indent the latest technologies across the board”.

India has already taken several measures in order to attract private investors both overseas and locally to the power sector, such as major reforms and polices including the Electricity Act, 2003, and the National Electricity Policy and Tariff Policy. Other methods included the new liberal policy which has abolished restrictive licensing regimes and now allows 100% FDI in all areas of the power sector.

During the last five year plan, the power sector required $230 billion investment. The Minister said that India has one of the largest installed capacities for power generation globally, but still isn’t able to meet the demands of the Indian Economy, which shows the need for newer and better sources of power generation.

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