India plans to develop a robust market for clean technologies

(05/10/2009)

The U.S.-India Business Council (USIBC) convened the breakfast in partnership with Confederation of Indian Industry (CII) as part of the Green India Initiative launched one year ago. At the meeting, Jairam Ramesh detailed India's proposals to mitigate its greenhouse gas emissions, and to reach multilateral agreement at Copenhagen and beyond.

India’s Ambassador to the United States, Meera Shankar, opened the meeting and Dr. Ramesh Ramachandran, President of Dow India, set the scene by underscoring the myriad opportunities to collaborate with Indian partners to meet the challenges of climate change. David Good, head Tata Sons Ltd for North America, and Member of the USIBC Board of Directors, introduced the Honorable Minister.

Belying the myth that India is not making serious commitments on climate change, Minister Ramesh detailed a range of new mandates that will ensure mitigation outcomes for carbon emissions in India. They include a mandate on fuel efficiency for cars by 2011, mandatory building efficiency codes by 2012, a requirement for 20% of energy from renewable sources by 2020; and an expansion of India’s forest cover.

The new policy undertakings build on India’s stated plans to achieve 20,000 megawatts of solar power by 2020, save 10,000 megawatts of renewable energy by 2012, and add 60,000 megawatts of nuclear power by 2030.

“These ambitious commitments entail both massive investments and the deployment of the world’s best technologies, which can be achieved only if the private sector is fully engaged,” said Ron Somers, President of USIBC. “The key is for India to develop and sustain a robust market for clean technologies.”

Ted Jones, USIBC Director for Policy Advocacy, observed that “U.S. companies understand that in India, cost is paramount. But they are meeting that challenge today. As long as they can market their technology, license it, and recoup their costs, they will invest and continue to innovate.”

Jones added that “Protection of intellectual property – and the incentive to innovate – will be essential if U.S. and Indian companies are to develop and deploy the low-carbon technologies required to combat global warming.”

The USIBC meeting was another event in the Council’s “Green India” Initiative, launched last year with CII to promote the development of India’s clean energy infrastructure. During October 26-30, USIBC will bring to India the Green India Executive Mission, featuring leading U.S. cleantech companies, including AES, Astonfield Renewable Resources, Dow Chemical, General Electric, Synergics, SPX, and Weston Solutions, among others.

Related categories:  Climate change and global warming   Environmental legislation   Solar power and photovoltaics   Wind power