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Election result: We will move to an era of power surplus, says Ravi Uppal

Ravi Uppal, Managing Director and Group CEO of Jindal Steel & Power, is hopeful the power sector will do well in the next five years.

twitter-logoGoutam Das | May 16, 2014 | Updated 13:09 IST
Ravi Uppal, Managing Director and Group CEO of Jindal Steel & Power
Ravi Uppal, Managing Director and Group CEO of Jindal Steel & Power. (Photo: Vivan Mehra)

With a decisive verdict for the National Democratic Alliance (NDA), captains of the Indian industry are expecting clarity of policies and reforms in India's power sector.

Ravi Uppal, Managing Director and Group CEO of Jindal Steel & Power, is hopeful the power sector will do well in the next five years. "We will move from an era of managing power shortages to an era of power surplus. I see liberalisation of licensing, more PPP (Public-Private Partnership), and a larger role of the private sector," he said.

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The private sector, he hoped, can play a larger role in the distribution of power as well as in the coal sector. "Coal mines must be privatized. Coal is our own and so is water. We don't have to depend on imports," he said.

Uppal added that imports of coal to fuel India's growth is not a viable economic model because wild currency fluctuations could easily drain the exchequer.

The steel industry too needs a boost. "The growth in steel should have been two-three times higher. There is no demand because of stalled infrastructure projects and slow growth in manufacturing," he said.  

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