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Based on investment opportunities in renewables, India ranks among top 3 countries, says HDFC’s Deepak Parekh

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Based on investment opportunities in renewables, India ranks among top 3 countries, says HDFC’s Deepak Parekh

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In this special show - Powering India! CNBC-TV18’s Nisha Poddar spoke to Deepak Parekh, Chairman of HDFC, on corporate India's new touch points, and tools for achieving the new era of growth.

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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...
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