India has chances to be global market in times to come: Ratul Puri, HPPPL
Recent news of China’s declining growth rate certainly filled many Indian hearts with hope, but India has a long walk to go in order to stand against China and hopefully beat the same in a short span of time. What are the advantages for India in coming years, how can the Nation cope with it and fill the gaps of infrastructural facilities’ lack, Ratul Puri is throwing some light on the matter with his experience of years.
Ratul Puri keeps China’s current growth rate in mind along with Europe’s continuous efforts to come back in the race of rapid growth. The man is looking at these regions’ slow speed as an opportunity for India to prove its mettle in the World Economic Forum’s Annual Meeting 2016. The factors which play a significant role in making India a global market include the majority of young age and its “appetite for entrepreneurship”, says Ratul Puri.
Ratul Puri mentions that the priority for India at the moment, is to create and be part of alliances that serve global as well as national interests, which is what the present Union Government has rightly embarked upon.
The Regional Business Council, India, World Economic Forum, recently organized a confluence in India to mark it as ‘National Strategy Day’ where the focus was on – Delivering Growth in the new context. These discussions, based upon action points, worked to create the environment to unclog the system and usher development. With India looking to implement these actions and many other reforms, the spotlight during WEF 2016 will be on India. The WEF theme – ‘The Fourth Industrial Revolution’ – is very relevant and timely for the country.In the energy sector, the industry has an unprecedented opportunity like never before in both the conventional and renewables space. The massive build-up of renewable energy would allow the country to skip one developmental step of creating fossil-based plants and directly leapfrogging into clean technology.
This will eliminate the risks of the cost of stranded fossil fuel-based power plants, which seem to be a critical issue even in countries with significant renewable capacity such as Germany. More importantly, the renewable energy build-up will provide environmental benefits and thrust to achieve its Intended Nationally Determined Contribution ( INDC) targets – lower the emissions intensity of GDP by about 33% by 2030 and increase the share of non-fossil-based power generation capacity to 40% of installed electric power capacity by 2030 (equivalent to 26-30% of generation in 2030).
The glory that India achieves hereafter rests on its broad shoulders and in one stroke it is safe to say: “Let the developmental revolution begin.”