Exclusive interview with Dr Rajeev Singh, the director general and CEO of the Indian Chamber of Commerce (ICC).
The ICC is the featured country partner at the upcoming Future Energy Nigeria, hosting a pavilion of almost 50 suppliers of specialised technology and services for the energy sector.
“Indian utility vendors and services will find a huge market and scope in Africa, especially in West Africa’s energy sector”
Let’s start with some background of the Indian Chamber – there is a proud history there.
Founded in 1925, Indian Chamber of Commerce (ICC) is the leading and only National Chamber of Commerce operating from Delhi, Kolkata, Hyderabad, Mumbai and is one of the most pro-active and forward-looking Chambers in the country today. Its membership spans some of the most prominent and major industrial groups in India. ICC’s forte is its ability to anticipate the needs of the future, respond to challenges, and prepare the stakeholders in the economy to benefit from these changes and opportunities.
Set up by a group of pioneering industrialists led by Mr G D Birla, the Indian Chamber of Commerce was closely associated with the Indian Freedom Movement, as the first organized voice of indigenous Indian Industry. Several of the distinguished industry leaders in India, such as Mr B M Birla, Sir Ardeshir Dalal, Sir Badridas Goenka, Mr S P Jain, Lala Karam Chand Thapar, Mr Russi Mody, Mr Ashok Jain, Mr Sanjiv Goenka, have led the ICC as its President.
ICC is the only Chamber from India to win the first prize in World Chambers Competition in Quebec, Canada. Our efforts have primarily been at linking the business communities between India and South Asia, South East Asia, Africa and The Middle East. Alongside the regional economic integration initiatives, ICC is also trading into the Knowledge highway to further growth & development activities in the country as “Shared Prosperity: Equal Opportunity for All” becomes the new motto of growth for the world as a whole.
- What kind of projects do you run for your members?
Business Information Service
ICC Agri-Business Initiative
ICC Council of Arbitration
ICC Young Leaders Forum
The ICC North East Initiative
ICC Convention Facilities
ICC Startup Support Program
What particular projects are you involved in the power sector?
Energy is one of the major drivers of a growing economy like India and is an essential building block of economic development.
The ICC has been working proactively on key issues impacting the Energy sector through its various initiatives in the form of a 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 nine 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 & organisations 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 Pradesh and 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 renewable is evolving, and to assess the implications of growing renewable deployment for the future shape of the energy industry. The ICC has already completed 4 editions of the Summit which witnessed extensive participation from the Indian RE along with widespread representation from Countries like Austria, Bangladesh, Canada, Belgium, Afghanistan, Ecuador, Iceland, Myanmar, Nepal, Iran, Kuwait, Germany, Singapore, Mauritius, South Africa and many others.
Continuing with its endeavour towards development & progress of the Energy Sector, ICC has also formed a National Expert Committee on Energy with a view to contributing effectively toward the growth of Indian Energy. This Committee is chaired by Mr Anil Razdan, Former Secretary, Ministry of Power, Govt. of India.
This is your second year hosting the official Indian pavilion at Future Energy Nigeria. How successful is this event for your exhibitors?
The primary objective of ICC is to connect over 1800 C-level industry professionals across the full spectrum of the sector to address today’s challenges and implement tomorrow’s solutions. The exhibitors are happy to join this exhibition as it is giving them opportunities to promote their products/services in West Africa as well.
How interested is the Indian utility vendor and services market in the African sector? And West Africa in particular?
Indian utility vendor & services will find a huge market & scope in Africa especially in West Africa's Energy Sector. With the latest World Bank loan, Nigeria is upgrading its T&D infra and solar projects, so this has brought a good interest to the Indian Utility Vendors and market.
What can visitors to this year’s Future Energy Nigeria expect when they visit the Indian Pavilion?
Visitors can interact and network directly with Indian vendors who have specialised in the Energy Sector. Visitors can see the products and services that cover generation, transmission & distribution, metering, Renewable and new technology. Visitors can establish distribution channels.
What excites you about this industry?
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, the 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 the 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 to 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 urbanisation and progressing economy. Thus serious energy shortages continue to plague India with key challenges like fuel secure, erratic gas supply, land acquisition and environment clearances, T&D losses, poor transmission and distribution infrastructure, a lack of accountability in metering and billing, cross-subsidies, etc.
For sustained economic growth, long-term availability of adequate energy at an 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.
What in your view can Nigerians learn from the Indian utility sector?
Energy is one of the major drivers of a growing economy like India and Nigeria. I believe that Nigerians can follow the same as given India’s vibrant entrepreneurial culture, history of technology innovation and the vast domestic market, the country is ideally positioned to capitalise 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 an alternative solution to fossil fuels.
Anything you would like to add?
I wish Future Energy Nigeria 2018 to be a great success and fruitful for both countries.