Assuring about government's sincerity in providing power supply to all, Minister of State for Power, Piyush Goyal on Thursday rallied for huge investments into the country's energy sector giving a clear message to the prospective investors.
"I see power as the driver of the economy as we go forward. And I can on my part only assure that this government is sincere in giving power to all, and this government will protect investments as we go forward," Goyal told those assembled here at the World Economic Forum's India Economic Summit.
While narrating about the positives of doing business into the country, Goyal said, "I think overall India has a credible government; we are bringing in transparency in the whole working of the government. We have a robust legal system which you can trust, all of these things put together; I visualize an investment of nearly USD 250 billion dollars in this sector in the next four or five years."
He also talked about having a situation where there will be uninterrupted power supply within the country and gave an account on the amount of investments needed in this regard.
"Atleast a 100 billion coming in the renewable space, another 50 billion coming in into transmission and distribution, where we are gradually moving and creating a national grid where power can seamlessly flow," he added.
Giving an example of how an imbalance of power supply affects the country, Goyal further said, "We don't have a situation where Chhattisgarh has a 1,000 megawatts, they desperate to sell, there are states in south India, there are states in northern India, they are desperate to buy. And we have the kind of situation that we faced in Delhi last year, where we didn't have enough transmission lines to bring power into Delhi. So, we are working at addressing each of these issues."
The World Economic Forum's India Economic Summit is returning to India after a gap of a year. The theme for this year's summit is, 'Redefining Public-Private Cooperation for a New Beginning'.