• 14th Pravasi Bharatiya Divas, Bengaluru
  • 14th Pravasi Bharatiya Divas, Bengaluru
  • A Coffee Table publication titled, "20 Mission Drive Social Impact Innovations" produced by Economic Diplomacy Division was released by the Hon'ble Prime Minister
  • Hon'ble Prime Minister Sh. Narendra Modi felicitating the 20 innovators selected through the MEA-NITI Aayog National Social Innovation Contest.
  • Global Technology Summit 2016 Click here for details
  • Global Technology Summit 2016 Click here for details
  • Ministry of External Affairs organises India-Latin Americas and the Caribbean (LAC) Conclave in Guadalajara, Mexico to enhance economic cooperation between India and LAC countries.
  • Ministry of External Affairs organises India-Latin Americas and the Caribbean (LAC) Conclave in Guadalajara, Mexico to enhance economic cooperation between India and LAC countries.
  • Global Technology Summit 2016 Click here for details
  • National Contest on Social Innovation, Pravasi Bhartiya Divas 2017
  • The Framework Agreement of the International Solar Alliance was opened for signing on 15 November 2016. On the first day of its opening 16 countries have signed the framework agreement. More countries are expected to sign the framework agreement in the coming days.
  • MEA - ED and BM Divisions along with Cll organized the India- Myanmar Business Roundtable on 19 October 2016 in New Delhi
  • ED Division continues MEAs engagement with Africa by sponsoring the India Africa Health Sciences Meet in New Delhi
  • 18 member multi-sector delegation from Nanjing, China interacting with Shri Nagaraj Naidu, Director & HOD, ED on 16 August 2016
  • Hon'ble Minister for External Affairs chaired Pravasi Bhartiya Diwas Panel-6 on "Edu, S&T & Innovation" on 30 July 2016. The Panel discussed tech solutions for societal problems, edu for tomorrow and Start Ups.
  • Hon'ble Prime Minister inaugurated investment guides for Indian investors who wants to do business with Kenya and Mozambique during his recent tri-nation visit to Africa. The publication was brought by ED Division with support from Indian Missions in Kenya and Mozambique.
  • Indian dignitaries at the inauguration of India pavilion at INNOPROM exhibition in Yekaterinburg Russia
  • ED Division facilitated visit of a Chinese delegation led by Mr Wang Hao, Mayor of Chaoyang district of Beijing Municipality and arranged meetings with officials of Municipal Corporation of Gurgaon and FICCI on 21 June 2016. (Press Release)
  • ED Division facilitates meeting of CEO of the British Columbia Investment Management Corporation Mr Gordon Fyfe and Team with Hon'ble Transport Minister Shri Nitin Gadkari and CEO NITI Aayog Shri Amitabh Kant on 16 June 2016
  • ED Division facilitates meeting of CEO of the British Columbia Investment Management Corporation Mr Gordon Fyfe and Team with Hon'ble Minister of Finance, Shri Arun Jaitley and CEO NITI Aayog Shri Amitabh Kant on 16 June 2016
  • Inter-Ministerial Meeting on Pharmaceuticals and Healthcare Sector in Africa
  • BRICS India 2016
  • Smt. Harsimrat Kaur Badal, Minister of Food Processing & Industry briefing representatives of foreign Embassies on opportunities in food processing sector in India in a meeting facilitated by ED Division on 17 March 2016 at Panchsheel Bhawan, New Delhi.
  • Investment
  • India at a glance
  • Trade
  • Economy

Business News

EDF upbeat on India's renewable energy plan

New Delhi: French energy major EDF Group's chairman and CEO Jean-Bernard Lévy said India is among the top 5 focus areas for the company but will stay away from investing in capital-intensive projects, especially in thermal power space. Lévy told Economic Times that his company is upbeat on India's renewable energy plan and committed to spend $2 billion on the sector but finds it "frustrating" that the country is not doing anything to tap the huge hydropower potential. Edited excerpts…

What’s on the agenda for your business in India?

India is a fast growing economy which demands a state-ofthe-art solutions for its energy needs, which we offer. There are three major topics on my agenda - first to help optimise energy solutions to urbanise India. Second is renewable energy since nobody generates more power from renewables than we do and we have already set foot in India, both in solar and wind-based energy. The third is to bring nuclear energy and French-based technology into India. There is a consensus inside the current government as well as former government that nuclear energy is one of the solutions that we need for India because it is low carbon, and create jobs and bring technology to the country. India is one of the top five countries for us.

The EDF Group is in pact with Nuclear Power Corporation of IndiaBSE 0.00 % to build a 10,000 MW plant at Jaitapur, a project which has faced challenges. What are the roadblocks now?

Nuclear projects are very complex; you need more time, need a lot of dialogue with stakeholders and very detailed industrial organisation, regulation and financing plan. This would be a key project for India as we aim to increase the level of skills here. It has India government’s willingness and French government’s support. The complexity by itself creates a long list of items that need to be resolved which takes time but there is no blocking issue. The reference plant for Jaitapur is being built in north western part of France and would be in operation by the end of next year. I’m confident that we will meet goals for construction of 6 EPRs in Jaitapur and 2017 could be the year of first concrete steps in this field.

You have committed to invest $2 billion on renewable energy in India. How is it developing? A lot of assets are on the block, are you looking at M&A opportunities?

Soon we will reach about 500 MW installed capacity of solar and wind energy put together. We aim to reach a level of 2 GW in the next few years. Our teams are assessing and bidding in various states and we find that it is working well in some states like Gujarat. We want to be disciplined regarding financial risks and returns, so we are monitoring bids closely. We have looked at M&A offers but it may not fit our strategy. We take up projects from inception to the end.

EDF has explored the idea of entering the thermal power market earlier. Would you still consider it?

It is a remarkable untapped market for two reasons - one, for the demand, and the second reason, for transition towards low carbon solutions. We are not going to play any other role in coal-based projects other than selling optimisation services and engineering services. We are not looking at developing any new project, only working for some projects which have finished in the last six to nine months and that’s all for us.

Source: The Economic Times

DOING BUSINESS IN INDIA

A study has been done by Ernst and Young India with the intention of providing an overview of the investment climate, taxation, forms of business organisations, and business and accounting practices in India.

To view full Text Click Here