Looking at expanding its reach into the international energy market, India has taken a new initiative to supply cheap LED bulbs for the citizens of London in the United Kingdom. Taking this process to the final stages is Union Energy and Power Minister Piyush Goyal who will launch ‘Ujala’ scheme. Goyal, who is heading for a four-day visit to Austria and Britain starting from May 11, will launch the Ujala plan on May 13. As per a report by Uttam Hindu website, the power minister has also announced an investment of 10 crore pounds in three years in Britain which will be managed by the Public sector company Energy Efficiency Services Limited (EESL). The initiative is aimed at saving the energy of this European country.
The report further stated that the EESL is looking to increase its penetration in the 4 billion pounds market and for the same purpose the company has acquired two British companies in an effort to start its business there.
Goyal is also scheduled to participate in the Investor’s Conference on May 10, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Austrian Federal Economic Chamber (AFEC). Apart from that, Goyal will also deliver the keynote address at the Vienna Energy Forum on May 11.
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The Uttam Hindu report also revealed that Goyal will meet the Director General of the United Nations Industrial Development Organisation to tap the possibilities of businesses in energy sector overseas. The power minister is also set to participate in the ministerial discussion on the UN’s sustainable development agenda on energy. He will also be a part of the UK-India Business Roundtable Conference on energy which will be held in London on May 12. The event is being organised jointly by FICCI and UK Trade and Investment.
In a report published by Livemint.com, Goyal was quoted saying that the Central government has done its best to remove the air of negativity surrounding the electricity sector in India and replace it with a sense of optimism by implementing a raft of reforms.