‘Greater investment required for India’s clean technology market’

July 10th, 2008 - 11:48 pm ICT by IANS  

New Delhi, July 10 (IANS) Amid passionate discussions on climate change, experts from Asia and Australia gathered here Thursday to deliberate on greater investments in the Indian clean-technology market. The two-day forum of the experts, working in the field of technology development for a cleaner environment, also brought together over 300 participants to discuss “Cleantech Solutions: Financing the Technological Innovation for Sustainable Development in India”.

Showcasing 15 Indian and international companies with commercially proven technologies, the forum offered an ideal platform to these companies which seek to strike a balance between development and environment.

It also gave them a platform to network with others sharing similar interests and looking for investment in new areas of clean technologies and renewable energy like wind and solar technology and bio-fuels amongst others.

One of the panellists Chris Greenwood, director of New Energy Finance, UK, said: “The investments in the clean technology sector would reach $10 billion per week by 2030.”

“Many clean technologies require heavy engineering and there is a demand supply gap, raising the prices of these technologies. Energy infrastructure in developing countries should be based on low cost, decentralized solutions.”

John McCarthy, the Australian High Commissioner, who was also present, said his country and India are on the verge of a great economic partnership.

“This is the right time for transformational investments for providing solutions to some of world’s biggest challenges like climate change, rising energy costs and rising costs of food,” he said.

The forum was jointly organised by, The Confederation of Indian Industry (CII) and Centre of Excellence for Sustainable Development and Clean Technology AustralAsia.

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