IEEMA’s Annual Convention ‘Transformative Reforms’ was inaugurated by Subhash Chandra Garg, Secretary, Ministry of Power. The Convention witnessed the presence of around 270 delegates from the electrical equipment industry. Garg stated, “There are transformational changes happening in the power sector but there is a need to bring in drastic reforms in the power distribution sector and the government is working on the revised version of the scheme, where it will also cater to separating carriage and content in the distribution sector. Electricity distribution is an area of concern. There have been various initiatives taken by the government, including the UDAY scheme to revive the distribution sector, but it has not proved to be effective. It is necessary that we take drastic reforms in the sector.
He further adds, “The aim of the UDAY scheme was to make sure that power is paid for. I am of the view that is discoms are buying power, they should pay. Under the UDAY scheme, states have to bear the burden of the losses of discoms. If this time the power sector digs deep holes in the finances of the state, then Centre will have to take the burden as the discoms will not be able to do it. He also noted that the private sector will play a key role in the transformation journey of the Indian power industry.
The implementation of the various reform measures in India has given immense opportunities to the countries of the world to come and invest in India and promote bilateral trade, technology sharing and transfer and also joint membership.