Infrastructure is the back-bone of the economy and the industry looks forward to continued support from the government in developing a reliable, efficient, connected and safe eco-system for the citizens, he said. “With the Indian economy taking giant strides towards becoming a digital economy, the infrastructure segment, especially power, building and transportation needs to leverage the technological advancements to drive efficiency and sustainability,” Chaudhry said.
Finance Minister Arun Jaitley will present the Modi government’s last full budget on 1 February. The budget comes at an exciting time for the power sector which is witnessing increased share of renewable energy capacity in the energy basket and the government’s focus on rural electrification.
Chaudhry said that digitization brings in energy efficiency and, as a result, will help attain the target of ‘Sustainable Energy For All’ to a large extent, along with the continued focus on renewables. “Digitization can make our lives and value chain simpler. Some key policies and encouragement for better digitization of our infrastructure would be a welcome move,” he said, adding that the definite shift towards electric vehicles and the resultant focus on setting up charging stations will also necessitate the need for strong last mile connectivity.
The past two years — 2016 and 2017 — witnessed major policy reforms by the government including Goods and Services Tax (GST) implementation, a boost to the renewable sector and some specific financial push to the overall infrastructure segment of the country, according to Chaudhry. “We expect the upcoming financial year to reap benefits of the investments and initiatives made by the government in the last few years,” he said.
Schneider Electric is a Euro 24 billion French multinational corporation with presence in energy management and industrial automation solutions. The company had last month launched EcoStruxure Grid in Hyderabad, an Internet of Things (IoT)-enabled framework for digital transformation of power distribution utilities and uses disruptive technology to generate higher efficiency.
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