The big event of Reliance Industries Annual General Meeting has spelt out a pathway for Indian businesses to make their mark in the global map as the world gears up for a transformation in the present ever-changing time.
Digital revolution and sustainable business are the two most important outcomes of the pandemic situation. RIL has been on a growth path for digitalisation in Jio and retail and now has embarked upon the journey of building future energy business.
Green, clean energy is a big global thrust and the RIL AGM has brought it home by committing a massive investment of $ 10 billion over the next three years. It will propel India to move towards it's renewable energy targets and also create the eco-system of furthering the different pieces of the green energy generation capabilities in the country.
Jamnagar's transformation from the cradle of legacy energy business to a new-age energy business is transformational as de-carbonisation and climate consciousness pick up pace across the world.
In this special show - Powering India! CNBC-TV18’s Nisha Poddar spoke to Deepak Parekh, Chairman of HDFC, on corporate India's new touchpoints, and tools for achieving the new era of growth.
On green and clean energy, Parekh said, “There is a generational shift towards clean energy and fortunately India is being viewed very favourably on renewable. Based on investment opportunities in renewables, India ranks among the top 3 countries after the US and China. So what excites investors is a pace of change we have here in India, the plug and play model for the solar park, and the other fiscal and other incentives for renewables.”
“For India, world focus will be on clarity of its energy policy and maintaining the sanctity of contracts because this is really what gives international investors’ confidence in our country.”
Speaking about conventional sources of energy, Parekh said, “Coal is a bad word globally, but we are heavily dependent on coal and coal will play some part in India. It is clean coal, how do we mine coal, how do you transport coal, these are some issues which India will have to tackle, but we cannot totally do away with coal because that is our mainstay today in India. It will take years for us to move more towards renewables and less dependence on coal.”
On digitisation, he said, “India has got its digital infrastructure in place so what we need now is to focus on legal issues on data protection. Technology is such a dynamic and evolving space but the rules need to be acceptable and clear for all stakeholders. So that is where the challenge lies and this is globally true and not only for India.”
For full interview, watch accompanying video...
(Edited by : Bivekananda Biswas)
First Published: IST