India well placed to lead green energy transition: Tata Group chairman

Tata Group Chairman Natarajan Chandrasekaran on Tuesday said transition to a cleaner and greener energy is an imperative that no one can wish away and India is well-placed to lead the change.

He further said technological advancements have already made and should continue to make such energy transitions more affordable.

The future of any business or industry, whether it is consumer facing or not, will be data-driven as the huge advancements in the field of technology has made real-time data availability both much easier as well as cheaper, he added.

"The pressure to shift to green/renewable energy only will increase going forward and the transition to cleaner energy is irreversible. But we need more and newer and cleaner energy so that it becomes more affordable. We need to have hydrogen-based energy, electric batteries, storage systems, technology to reuse of industrial waste etc.

"All these will be done in our own lifetime but what we need to ensure is that these solutions are more affordable," Chandrasekaran told students of the Pandit Deendayal Energy University on their convocation in Ahmedabad.

The progress that is being made in the field of technology is tremendous and this advancement is going to be significantly more going forward, he said.

"The tremendous technological advancements being made and already achieved in the form of artificial intelligence, cloud, and data will ensure that every business will be a data business soon and everything will be based on real-time data, whether you are into consumer facing business or not. And I think the 5G technology will lead the way on this data driven future," he added.

Lauding the tremendous progress that the country has made on the renewable energy front, he said we are on the cusp on a new transition and India is going to be in a period of tremendous growth, not just economically but in a lot of other areas as well.