Sector : Energy

Energy is one of the major drivers of a growing economy like India and is an essential building block of economic development. There is a strong two-way relationship between economic development and energy consumption. On one hand, growth of an economy, with its global competitiveness, hinges on the availability of cost-effective and environmentally benign energy sources, and on the other hand, the level of economic development has been observed to be reliant on the energy demand.

Economic growth in India has largely been associated with increased energy consumption. Over past few years, climate change has become one of the main concerns driving energy policy.

Since energy use is a major source of emissions, it is necessary to focus on the management of energy demand and supply as a means to abatement. Technological progress, energy efficiency programmes and structural changes contribute towards the variation in energy demand. Understanding the various components of energy demand is therefore important and necessary in order to deal with future emissions.

However, resource augmentation and growth in energy supply have failed to meet the ever increasing demands exerted by the multiplying population, rapid urbanization and progressing economy. Thus serious energy shortages continue to plague India with key challenges like fuel secure, erratic gas supply, land acquisition & environment clearances, T&D losses, poor transmission and distribution infrastructure, unaccountability in metering and billing, cross subsidies, etc. For sustained economic growth, long-term availability of adequate energy at affordable cost is crucial. Meeting the energy challenge is therefore of fundamental importance to India’s economic growth imperatives and its efforts to raise its level of human development. Energy sector reforms, fuel issues, sector rejuvenation and plumbing the perceived faults in the critical financials of the sector are the government’s primary focus areas. Energy availability, access and affordability are necessary for meeting the country’s high economic growth expectations.

Given India’s vibrant entrepreneurial culture, history of technology innovation and the vast domestic market, the country is ideally positioned to capitalize on the advantages that renewable energy has to offer. Although renewable energy technologies currently represent a fraction of the energy market in India, they have tremendous potential to undergo rapid growth and provide alternative solution to fossil fuels.

The ICC has been working proactively on key issues impacting the Energy sector through its various initiatives in the form of recommendation to the Ministry, publication of reports, creating various platforms (Summits) between government and industry body addressing important and relevant concerns.

The India Energy Summit is one of the prime initiatives of ICC in the Energy Sector. The IES that started eight years ago has today succeeded in achieving the recognition of being one of India’s Largest Energy Gatherings witnessing active participation of the most important dignitaries & organizations relevant to the sector from India and abroad. Active involvement and participation from the States like Gujarat, Maharashtra, West Bengal, Kerala, Chhattisgarh, Punjab, Madhya Pradesh, Haryana, Himachal Pradeshand others, have also remained a major focus area and key strength.

The Green Energy Summit has proved to be another major initiative of the ICC which exclusively focuses upon the Indian RE (Renewable Energy) Sector. It succeeded in bringing together leading renewable company and utility leaders, government decision makers and investors to discover how the economic, financial and political framework for renewables is evolving, and to assess the implications of growing renewable deployment for the future shape of the energy industry. The ICC has already completed 3 editions of the Summit which witnessed extensive participation from the Indian RE along with widespread representation from Countries like Austria, Bangladesh, Canada, Belgium, Afgahanistan, Ecuador, Iceland, Myanmar, Nepal, Iran, Kwait, Germany, Singapore, Mauritius, South Africa and many others.

Continuing with its endeavor towards development & progress of the Energy Sector, ICC has also formed a National Expert Committee on Energy with a view to contribute effectively towards growth of Indian Energy. This Committee is chaired by Mr. Anil Razdan, Former Secretary, Ministry of Power, Govt. of India. The Board comprises of eminent dignitaries and stalwarts from the Energy Sector as its Core Members which includes eminent Energy Experts & Leaders like Mr. Mahesh B Lall, Former Chairman, HPCL, Mr. M A Pathan, Former Chairman, IOCL, Mr. V Subramanian, Former Secretary, MNRE, Govt. of India, Mr Yogender Prasad, Former Chairman, NHPC, Mr. H L Bajaj, Former Chairman, CEA, Dr Bibek Bandyopadhyay, Former Adviser & Head, Solar Energy Centre, MNRE, Govt. of India, Mr V S Verma, Former Member, CERC, Mr B P Rao, CMD, BHEL, Dr A K Balyan, MD, Petronet LNG Ltd, Mr Prabh Das, MD & CEO, HMEL, and others. With the plethora of expertise and knowledge along with active involvement of industry, the Committee has been meeting in frequent intervals wherein it has been addressing relevant concerns of the Sector and has also come up with actionable recommendations. The “Energy Sector Agenda: 2014-15” is a recent publication from the ICC National Expert Committee on Energy which lays down key recommendations for the New Government for their review. Given the ever growing importance of the Energy Sector in India, the ICC Expert Committee intends to continue to act as a forum involving all stakeholders of the sector for addressing key concerns and thereby facilitating growth and development.

The Department is headed by Ms. Serene Ghosal

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