Energy cooperation is a cornerstone in the India-US relationship, according to a top official from the US Chamber of Commerce as New Delhi embarks on a strong multi-decade energy transformation journey.
Energy cooperation is a cornerstone in the US-India relationship and of increasing strategic importance to both countries, said Nisha Desai Biswal, senior vice president for international strategy at the US Chamber of Commerce and also president of the US India Business Council.
Biswal said this after the conclusion of the Destination India: Energy and Infrastructure Executive Mission to India with industry leaders from multiple sectors and key stakeholders from Government of India (GOI), US administration and the states of Gujarat and Andhra Pradesh.
The three-day summit promoted an exchange between industry and Government of India around energy, climate and sustainability, and infrastructure in the US-India strategic and commercial relationship.
The importance of collaboration in areas such as decarbonisation, water, energy, emissions reduction, finance, efficiency, and technological collaboration (to include partnerships, research and development) were reiterated throughout, a media release said.
Over the last three days, we received notable suggestions from the GOI and members on India's decarbonisation strategy, stronger industry engagement in emissions reduction, climate smart infrastructure, energy access, and security. With this mission, we aim to continue conversations to increase investment and cooperation between the United States and India, Biswal said.
Asserting that India is already on a strong, multi-decade energy transformation journey, Mahesh Palashikar, president, General Electric, South Asia, said his company believes that lower-carbon solutions of renewable energy supported by gas power, can contribute to a more decarbonised energy future.
We are happy to bring the best of our global technologies and learnings to help accelerate energy transition in this region, he said. Palashikar is also a USIBC board member.
USIBC India Advisory Council Member Nitin Prasad, Chairman, Shell Group of Companies, India said cooperation across industrial sectors and with governments will be essential to deliver economic growth that is environmentally sustainable and socially inclusive, and for developing today the enabling policies for low carbon fuels and technologies.
In the backdrop of the renewed Indo-US and Quad cooperation, this was a very timely and engaging dialogue hosted by USIBC to explore and define fields of tangible participation by US leading businesses in India's energy and infrastructure growth plans with a focus on sustainable development, said USIBC member and mission partner, and Managing Partner of J. Sagar Associates, Amit Kapur.
The USIBC team engaged India's policymakers highlighting their priorities as also concerns of investors which would go a long way in fructifying the $1.6 trillion NIP and USD 5 trillion GDP by 2025, he said.