Press Release - Visit of Sri Piyush Goyal, Hon'ble Minister of State (Independent Charge) of Power, Coal and New & Renewable Energy to Washington DC

1. Sri Piyush Goyal, Hon'ble Minister of State (Independent Charge) of the Ministries of Power, Coal and New & Renewable Energy, Government of India visited Washington DC on May 21, 2015, after attending the United Nations Sustainable Energy for all (SE4ALL) conference in New York on May 19-20, 2015.

2. In Washington DC, the Hon'ble Minister chaired an investment round-table organized by the U.S. India Business Council (USIBC), and met with prominent members of the U.S. administration, namely, US Energy Secretary Dr Ernest Moniz and the US Commerce Secretary, Ms Penny Pritzker. He also had a telephonic conversation with the US Trade Representative (USTR), Ambassador Michael Froman.

3. In his business and official interactions, the Hon'ble Minister outlined the significant steps that had been initiated by the one year old Government headed by Prime Minister Sri Narendra Modi to accelerate growth, revive the investment cycle, make doing business easier in India and empower the citizens of the country, including through financial inclusion. On the energy sector scenario in India, the Hon'ble Minister spoke about the initiatives of his Ministries, which included enhancing the target for production from renewable sources five fold to 175 GW over the next seven years, doubling the total electricity production over the next seven years, creating a framework for private sector participation in coal mining and production, enabling investments worth US $ 250 billion in the power sector - among the world's largest investment opportunities in any country - and moving towards the ultimate target of 24x7 electricity for all by the year 2019. He urged the U.S. businesses to invest in India, which is a large and dynamic market, of 1.25 billion aspirational, upwardly mobile people, and to enable transfer of technology within arrangements that were mutually beneficial.

4. The business interactions elicited positive reviews from entities with investments in India, who acknowledged a tangible improvement in the doing business environment. The senior administration officials acknowledged a major positive shift in the trajectory of US-India relations and committed to explore new opportunities for co-operation.

5. The Hon'ble Minister was accompanied in his meetings by Sri Arun Singh, Ambassador of India to the US and other members of the delegation, comprising of senior officials of the Ministries of Power and New & Renewable Energy.