PM Modi Pitches For India As An Attractive Energy Investment Destination

During the recently held G20 Summit in Brisbane, Australia, Indian Prime Minister Modi invited energy companies across the world to consider India as an attractive energy investment destination.

He said, “Energy efficiency is the best source of clean energy. In India, for example, building energy efficiency and efficiency in areas such as buildings, household appliances and industrial goods is receiving strong attention. I invite you to come and invest in this sector in India.”

He also emphasized that all countries should work together to do research and development in this field, and ensure uniform energy distribution across the globe.

“For this, I would propose that we set up a global virtual centre for clean energy research and development, with adequate public funding, which will fund collaborative projects in diverse sources of clean energy, smart grids and energy efficiency among other things. India and the United States have built an excellent virtual centre on a bilateral basis, with matching public and private funding. We can select a team of outstanding experts to evaluate and judge research projects. The results should be available to all countries,” said PM Modi.

Citing the pricing of carbon in mature markets as one of the good reasons to shift to renewable energy, PM Modi said, “We should also discuss innovative funding models to ensure rapid expansion of renewable energy in decentralized manner in rural areas.”

Prime Minister Modi noted that a change in the lifestyle could also meet the energy challenges faced by several countries and suggested that judicious use of nuclear energy could address some of the energy challenges in the world. He said, “Nuclear energy can still be a safe, reliable and clean source of energy. It will be an important part of our mix.”