India ‘thinking big and moving big’ on energy: US Prof to Congress
The Dollar Business Bureau
To catch up rapidly in development, India is “thinking big and moving big” as the country lags behind its neighbour China, by providing huge opportunities to a nation like the US, a University of Maryland Professor told the American lawmakers.
“India is moving quite quickly in a number of areas as well, again, on renewable energy, which is a kind of golden thread running through this hearing. India is thinking big and moving big,” said Robert Orr, Professor and Dean, University of Maryland, School of Public Policy, at a Congressional hearing.
Replying to a question, he said that India has big goals on wind and solar. The country is not only meeting them but also surpassing them. These areas will continue to attract investment, from domestic as well as international investors.
“There are many components to their smart cities initiative started by the Prime Minister Narendra Modi. And I think this is a strategic vision which is at once both economic and developmental,” Orr said.
The Professor further said that he had been to India last year along with Michael Bloomberg, the former New York Mayor and had meetings with several top business leaders of the country, and discussed with them about their plans in the fields of climate and energy.
Nearly, leaders of every conglomerate, be it coal-based or oil-based or any other thing, are now making investments in that sector, he said.
“So, while I described China as putting these huge dollars, $360 billion over the next four years, India is going to be mobilising a lot of internal capital in this,” he said, while adding that the competition is between China and India in the energy sector.
Orr told the lawmakers that this is something in which the US has a technological advantage and a potential market. But, as of now, we are not taking any decision and we have to compete with these Asian giants.”