Cleantech is a business solution to environmental problems
14 July 2008
Financial Express

There is a business case for deploying clean technologies in India to fight climate change. It calls for appropriate policies, technologies and finances, though.

Speaker after speaker expressed these views at the 2nd India Cleantech Forum, which was held towards the end of the last week in New Delhi. The theme of the two-day conference was 'Cleantech Solutions: Financing the Technological Innovation for Sustainable Development in India'.

While talking at the forum, Debashish Majumdar, chairman and managing director, Indian Renewable Energy Development Agency Limited (IREDA), emphasised, "What we need now is an investment climate for clean technology." Pointing out that the high growth in the renewable energy sector in the country does not have its roots in environmental or clean technology opportunities, but in the demand-supply gap of energy, he added that the focus on addressing climate change can give the sector a big push.

It's important to promote the sector, reiterated Pankaj Sehgal, director, SUN Group. He explained, "We can't grow at 9% if we don't address the challenge of energy shortage. Energy security is necessary for growth."

The event brought together 300 participants from India and abroad, including government leaders, industry captains and investors. In addition to debating on the latest trends in clean technology, government policies, investment opportunities, technology transfer and innovation in technology and financing, speakers also focussed on the challenges in pursuing the path of clean technology.

Said VT Bharadwaj, vice-president, Sequoia Capital India, "Clean technology is entering the space of what can be done from what should be done. There is a case for developing India-specific technologies to raise energy efficiency and reliability, which are affecting energy security in the country."

Innovation is accompanied by its own challenges, though. Flagging off the intellectual property (IP) issues, Pavan Sukhdev, managing director and head of global markets, Deutsche Bank, said, "The security of intellectual property is an imporatnt issue that needs to be addressed urgently."

Agreeing with him that intellectual property is an area of key concern, Somak Ghosh, president, Corporate Finance and Development Banking, Yes Bank, said, "I don't think it's a difficult issue to address." He added, "If foreign companies enter into partnership with local Indian companies after due diligence, their IP concerns will be taken care of."

The forum also highlighted case studies of Indian and international clean technology companies, thereby creating an opportunity for sharing and learning best practices. India and China are two of the fastest growing...