Piyush Goyal addresses USIBC Investment Round-Table

Union Minister of State for Power, Coal and New & Renewable Energy, Mr. Piyush Goyal, chaired U.S. India Business Council (USIBC) investment round table conference on 21^st May, 2015 in Washington DC. During the conference Mr. Goyal met prominent members of the U.S. administration, namely, US Energy Secretary Dr Ernest Moniz and the US Commerce Secretary, Ms Penny Pritzker. He also had a telephonic conversation with the US Trade Representative (USTR), Ambassador Mr. Michael Froman. Mr. Goyal chaired the conference after attending the United Nations Sustainable Energy for all (SE4ALL) conference in New York. 

In his business and official interactions, Mr. Goyal talked about the significant steps taken by one year old Union government for accelerating growth, reviving the investment cycle, creating better business environment and empowering the citizens of the country through financial inclusion. Speaking on the energy sector scenario in India, Mr. Goyal briefed about various initiatives taken by his Ministries like enhancing the target for production from renewable sources fivefold to 175 GW over the next seven years, doubling the total electricity production over the next seven years, creating a framework for private sector participation in coal mining and production, enabling investments worth US $ 250 billion in the power sector – among the world’s largest investment opportunities in any country - and moving towards the ultimate target of 24x7 electricity for all by the year 2019. He urged the U.S. businesses to invest in India which is a large and dynamic market of 1.25 billion aspirational upwardly mobile people and to enable transfer of technology within arrangements that are mutually beneficial.