Government of India is planning to set up help desk for foreign investors in power sector

India: According to the Minister of Power, Coal and New and Renewable Energy, Piyush Goyal, foreign investors have to deal with two major concerns, which are financial health of power DISCOMs and different laws and regimes in various parts of India. In order to address this issue, the Government will be setting up help desks across the nation as well as in the US, the UK, Australia and Japan. The Indian Renewable Energy Development Agency Ltd (IREDA) is expected to be the nodal agency for setting up such help desks in Delhi and other states in India.

TechSci Research depicts that this move would provide USD1 trillion opportunity in the energy sector by 2030 which could help the nation to expand renewable energy sector significantly. Also, the rising government investments, increasing technological advancements, growing environmental concerns, government support in the form of favorable policies, subsidies and tax incentives are expected to have a significant positive impact on the solar power equipment market in the ensuing years.

According to released report of TechSci Research “India Solar Power Equipment Market Forecast & Opportunities, 2020”, the solar power equipment market in India is projected to surpass USD4 billion by 2020. Growing demand for renewable sources of energy and favorable government incentives to drive India solar equipment market through 2020. Constantly improving solar equipment technologies, advanced manufacturing processes for production of hi-tech equipment and anticipated decline in equipment prices is projected to further drive the solar equipment market over the next five years.