India embarking on bigger power ties with SAARC, says Piyush Goyal

Minister of State (Independent Charge) for Coal, Power and New and Renewable Energy Piyush Goyal said today that India is embarking bigger power ties with other SAARC nations.

Addressing the valedictory function of South Asian Economic Conclave organised by the Confederation of Indian Industry (CII) here, Goyal said that in terms of expanding business, regional cooperation has become mantra of the day.

He further said that SAARC Countries have shared heritage which can become base of knowledge sharing, trade and commerce among them.

He also mentioned that economic integration not just leads to inclusive growth of the people living in these countries but also contribute in maintaining peace and harmony among nations.

Goyal also emphasised that the regional economies could leverage the unique strengths of each other to drive growth and development in the region.

He said that such a concerted effort will resonate with Prime Minister Narendra Modi's vision of one-ness of South Asia.

Goyal underlined the enormous potential for extensive energy cooperation between the South Asian economies.

He made a mention of the strident progress achieved in India's bilateral energy cooperation with Bangladesh, Bhutan and Nepal and the ongoing efforts to build similar engagements with Sri Lanka.

He said that India has assured maximum support to Sri Lanka in fast-tracking the establishment of a 500MW power plant in Sri Lanka.

He added that India has assured Maldives of all support to promote renewable energy development in the island nation.

Goyal said that the SAARC countries could support each other in collectively meeting power-related challenges and to bridge the deficits caused by resource crunch and seasonality factors, etc.

The minister assured the South Asian delegates that his ministry will open up opportunities for people of South Asian countries to receive skills training in India in the power industry.