IIP DATA FOR FEBRUARY 2016

While the modest growth in manufacturing remains a concern in the short term, we are optimistic that the reforms undertaken by the Government would boost growth in coming months, said FICCI. There is immense potential for growth in the manufacturing sector, but currently with the demand scenario not so optimistic, industry is also cautious on any large scale expansion.

Global investor associations and the Green Infrastructure Investment Coalition (GIIC), representing over USD 60 trillion of assets under management, have pledged their support for the International Solar Alliance (ISA) objective of mobilizing USD 1 trillion investment in photovoltaic power generation assets in member countries by 2030. In a Solar Investor Statement released at the Terrawatt Initiative (TWI)/International Solar Alliance, “Trillion Dollar Opportunity” Roundtable in New York, the groups have undertaken to support the swift mobilization of billions in capital for solar investments.

On the release of the Solar Investor statement, FICCI and GIIC Member stated that GIIC has the potential to galvanize long term funds which would be a significant game changer for solar energy applications.  

‘EASE OF DOING RESPONSIBLE BUSINESS’

FICCI appreciated the efforts of the Environment Minister for his leadership in taking measures, particularly aimed at reducing time and transaction cost, and ensuring greater transparency and accountability in granting environment and forest clearances as the weighted average time taken in granting environment clearance has been reduced from 599 days to 192 days. Yet, issues faced by the industry such as multitude of clearances, lack of coordination between Centre and State Governments, cross-cutting issues within Ministries and timely revision of laws, still remain.