The London-based Hinduja conglomerate has begun work on the $15-billion investment plan for India's power sector that will result in generating 10,000 MW for the national electricity grid.
"These are the initial phases of a plan to develop, over the next few years, a pipeline of power projects aiming at a capacity of 10,000 MW...This means a total investment of some $15 billion," the Hinduja Group head in France Nader Hakimi said in Paris on Tuesday evening.
However, president of the Hinduja Group of Companies Gopichand P Hinduja said at the India-EU Business Summit that the Indian Government needs to pull up its socks for transparency and accountability in terms of clearing the mega projects.
"There should be a time limit for clearance of the projects and accountability be fixed for delays," Hinduja said at the Summit, organised by the French industry chamber MEDEF, FICCI and CII in Paris.
Hinduja said the group with presence in 32 countries is committed to investing in India's infrastructure sector.
"Our commitment is visible with our 1,000 MW power generation project in Andhra Pradesh and a new 4,000 MW project in Tamil Nadu," he said.
The projected investment in India's infrastructure sector over a 10-year horizon is $1.5 trillion, which is equivalent to one and a half times of the country's present GDP.
The government, which had earlier set up an 11th Plan target of 78,577 MW additional capacity, has revised it to 90,000 MW new power generation by 2012.
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