Power News We love to talk!

MAY 24 2017

Will not allow companies from any country barring Indian firms: Piyush Goyal

  • Economic Times, ET Bureau / Hyderabad
  • Created: Wed 24th MAY 2017


Power Minister Piyush Goyal today said he "will not allow" any company to come to India from a country that does not permit an Indian firm to do business there -- a warning seen to be targetted at China.

"Reciprocity should be there. Is India a punching bag that if you want then you can come and invest in India and earn and Indian companies cannot come and earn in your country. We believe in reciprocity and it is also a display of our strength," the minister said.

While Goyal did not name any country, the comments follow media reports that India may soon bar Chinese power companies from projects in the power sector, as China does not approve foreign investment in electricity grids on security grounds.

India allows 100 per cent FDI in this business.

Speaking to reporters at an event here, Goyal said, "There is no intention to bar any particular country. We don't have problem with any country. But I think India should work with reciprocity with every country."

He further said, "If any transmission company of India like Power Grid cannot bid in any other country, cannot invest in any other country, cannot set up transmission lines in any other country then I will not allow any company of that country to come to India."

He was speaking after the launch of mobile app 'Saral Eindhan Vitaran App (SEVA)' developed in-house by Coal India Limited (CIL) for power sector consumers.

SEVA is a part of 'Digital India' initiative, which is aimed at increasing the consumer connect as well as transparency and accountability in coal dispatches.

Asserting that cyber attack was a serious problem in the entire work, the minister said that there was no 100 per cent solution on this across the globe.

"We continuously upgrade the systems in grid transmission. We also monitor. But this is a great problem in the entire world. This is grave problem. Our scientists, engineers keeping a vigil on this," Goyal said.

Repyling to another question, the minister said that an inter-ministerial panel will meet this week to deliberate on the modalities with regard to policy on auction of mines to private sector for commercial mining.

"Inter-ministerial committee will meet on May 25 to take this further (commercial coal policy)," the minister said.



Power Grid Grid Coal Coal India Limited China Foreign Direct Investment CIL Power Coal Policy Electricity Consumer India

Related News

  • Delhi ranks third on petrol, diesel sales fraud among states  Read more
  • Refinery wars: China, India win; S. Korea, Japan, Singapore lose  Read more
  • Whatever may happen in politics, India will grow: Lakshmi Niwas Mittal  Read more
  • Niti Aayog's new methanol push could be bad news for Modi's electric vehicles mission  Read more
  • NTPC case: Court pulls up CBI for not probing properly  Read more
  • HPCL, GSPC deals to hit oil PSU dividends in FY18 by at least 17%  Read more
  • Thanks to govt policy, CIL finds land too hot to handle in Odisha  Read more
  • Jindal Power & KSK Mahanadi suffers a setback as APTEL upholds CERC decision denying part allocation of Transmission Corridor for LTOA  Read more
  • GERC rectifies previous order and fixes tariff for TPL-Ds Dahej Supply Area  Read more
  • NTPC's Kahalgaon supr thermal plant to generate low cost power soon  Read more