US to mobilize $25 mn for clean energy R&D; in IndiaNovember 7th, 2011 - 7:49 pm ICT by IANS
New Delhi, Nov 7 (IANS) The United States will mobilize $25 million of Department of Energy funding for a joint clean energy research and development (R&D;) center in India, Under Secretary for International Trade Francisco J. Sanchez said here Monday.
“By investing in R&D; today we can ensure that we are leading the global economy of tomorrow. It is the first venture of its kind that the energy department has leveraged with the foreign government demonstrating how much we value our partnership with India,” said Sanchez at an event organized by the Confederation of Indian Industry (CII).
According to Sanchez, this would improve energy access and promote low-carbon growth through the R&D; of clean energy technologies.
Over five years, the research will focus on areas for building efficiency, solar energy and advanced bio-fuel.
Welcoming the interest of the private sector in clean energy, he also said this would play a vital role in developing the sector.
Sanchez is leading a 15-member trade delegation comprising leading players in clean technology sector in the US.
He also said that during the period of 10 years from 2000 to 2010, the US direct investment to India increased by two folds to $27 billion and the bilateral trade in goods has quadrupled to approximately $49 billion, placing India as the 17th largest export market for the US.
“We are looking together to economic growth,” added Sanchez.
- US urges India to open up solar energy market - Nov 09, 2011
- CII-India Business Forum welcomes Obama's job creation agenda - Jan 27, 2011
- US-India CEO forum suggest $1 bn clean energy fund - Nov 08, 2010
- 10,000 PhDs to be absorbed every year: Ashwani Kumar - Nov 14, 2011
- US, India setting up $125 mn clean energy centre - Apr 14, 2012
- Raise depreciation rate to boost investment: CII - Feb 26, 2012
- India, US launch open government platform - Jun 12, 2012
- More private participation in R&D; needed: Ashwani Kumar - Nov 12, 2011
- India Show in Canada to showcase engineering power - May 28, 2011
- European firms tap India's huge environment technology market - Nov 15, 2011
- US, India believe clean energy future makes clear economic sense - Jan 28, 2011
- 'Budget in right direction but short on growth incentives' - Mar 16, 2012
- GE to invest Rs.300 crore in India research facility - Jun 07, 2012
- India-US science body seeks removal of visa problems - Jun 13, 2012
- Durban climate talks: What it means for India? - Dec 15, 2011
Tags: bilateral trade, bio fuel, clean energy technologies, clean technology, confederation of indian industry, d center, department of energy, economic growth, energy department, energy research, export market, first venture, global economy, international trade, New Delhi, private sector, research and development, solar energy, technology sector, trade delegation