Power sector holds key for growth of Indian economy
While addressing at the National Seminar on Engineering, Procurement & Construction (EPC) of Power Project jointly organized by Confederation of Indian Industry (CII) and Department of Heavy Industry (DHI), Government of India in New Delhi, Dr S N Dash, Secretary, Department of Heavy Industry, Government of India said that power sector is most critical for Indian economy and holds the key for growth of Indian economy.
He said that there is need for greater stress on the reforms in the area of distribution, as out of the generation, transmission and distribution; distribution is most critical for growth of the sector. Dr Dash said that government has taken various initiatives over the period of time like 'Open Access Policy', but some of these failed to take off due to lack of proper implementation at the state level.
Pre-project activities are most critical for the successful and timely completion of the power projects. The same has been also indicated by a study done by McKinsey which reports that best in class power projects devote more time on pre-activity/construction activity as compared to the Asian average.
There is need to work on initiatives like 'Power trading and Power exchanges which could give a major fillip to the sector and facilitate investments. In next 10 year, US$ 200bn would be required in power generation and similar amount would be required for power distribution.
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