India will have surplus supply of coal by 2022: Energy Minister Piyush Goyal

The energy policy of the Government of India is focused on renewable sources and solar power, said Piyush Goyal, Union Minister of State (Independent Charge) for Power, Coal, New & Renewable Energy. India will have surplus supply of coal by 2022 and this will help in electrification of rural areas, he told the media at an interactive session at the Indian Consulate in New York, April 21. 

The minister was in New York to participate in a High Level Side Event in the United Nations Headquarters on the International Solar Alliance (ISA). He was accompanied by an official delegation which included secretary, ministry of new and renewable energy, joint secretary, ministry of new and renewable energy, and six members of his delegation 

Goyal briefed the media about various steps taken by the government to improve energy access, rapid scale up of renewable energy, enhancing grid reliability, integration of renewable in the grid and the massive opportunity presented by the untapped demand in the Indian market.

He outlined the steps being taken to improve the contractual/ counter-party risk framework which is critical to all investors and about initiatives such as Greening the Grid; National Solar Mission: LED Program for enhancing energy efficiency.

Speaking on Ujwal Discom Assurance Yojna (UDAY), Goyal stressed upon the steps being taken to bring a drastic change in the power sector which can take India to 7-8% growth in economy.

Goyal was scheduled to meet with major energy sector investors to showcase business opportunities in India.

Answering to a question from Desilife and emalayalee, regarding pravasi participation in the ambitious projects in energy sector,  Goyal pointed out several investment friendly initiatives started by Prime Minister Narendra Modi's government. 

He said currently India has a stable government with clear vision for the future and sound policies for the economic sector. It has brought positive climate for investment. A help desk in Delhi will facilitate those seeking investment in various projects.

Consul General Riva Ganguly Das and other officials too participated in the discussion.