India is in a remarkable position in terms of growth, and is best placed in all major transitions, including energy, said N Chandrasekaran, Executive Chairman, Tata Sons.
In the energy transition, India is probably the only country that is going to invest in all the new energies for growth. India is adding 750 GW of solar, and hydro and wind and all of these will go towards growth. Every other economy has to add new energy to replace coal, which is tougher, he said in his address at the 45th Anniversary of PKF Sridhar & Santhanam LLP, on Thursday.
India is entering a period where it is going to have growth in the domestic economy and growth in the export economy. India is going to have consumption-led growth and industrial growth. The opportunity is huge. “I am quite confident that we are in a period where the opportunity is huge, but you have to watch out for all the developments in geopolitics, because it is not yet over. These things are not going to get dissolved,” he said.
Plus points
India has a very strong opportunity to be part of the global supply chain — be it in electronics, defence, pharma or any number of areas, and in all these areas the potential is huge. “We are making bets across the board, as a group,” he said. “All the trends — digital, supply chain and energy transition — position India extremely well in the context in which we are operating,” he added.
For India, it is an economic opportunity, a growth opportunity and it will only get accelerated. India will surprise irrespective of the deadline. “I believe that the electric vehicle transition is real and will happen faster than people predict,” he said.
India has a lot of positives in terms of the whole investment cycle by the government and the private sector is happening now, a stable banking system and the expected earnings growth for the next few years is going to be very high. “We have a very strong digital infrastructure in place,” he said.