‘Make In India’ is actually a game changer for Indian Economy

By Himanshu B Patel, Founder & CEO, Triton Solar

Over a period of the last ten months or so, the whole world has been witnessing a rapid transformation of India towards economic reformation. Although actual reforms will take time to become more visible, what is well visible now, is the amount of action and trust that the entrepreneur and business community is building towards Indian policy makers and Indian system as a whole. This factor itself shows that, in time, there is a great prospect for the economy to grow

Although the action is all around in the present government, I would like to touch upon the area of my core interest and that is alternate energy. As a market fact, economic growth, increasing prosperity, a growing rate of urbanization and rising per capital energy consumption has widened access to energy in the country. The latest data on renewable energy contribution stands at 31.70 GW of the total installed capacity of 245 GW in the country as on 2014.

India has the fifth largest power generation portfolio worldwide with a power generation capacity of 245 GW. Specifically talking about Solar energy, India offers unlimited growth potential for the solar photovoltaic industry. India is endowed with vast potential for solar energy and is rapidly emerging as a major manufacturing hub for solar power plants. It is expected that the annual PV-installed capacity will grow at a CAGR of around 49.5% between 2010 and 2015 and it has crossed 1,500 MW as of now.

On top of such motivational data, the Government of India’s Make in India program holds great attraction to entrepreneurs who are opting to become investors in India. Under this program, we as investors are not hesitant in saying that we got great support from the government machinery and from decision making to documentation work the entire process was quick and as a result Triton Solar, has announced it’s investment and we are set to start our manufacturing activity from Indore, Madhya Pradesh.

I am sure, that with a proactive approach from the state government, the initiative like ‘Make In India’ will be going to transform the Indian economy and India’s overall market positioning in other countries.

While setting up Triton Solar’s business in Madhya Pradesh, I have experienced a fact that things are rapidly changing for the good in India. The policy makers are proactive and supportive towards new investments. Government machinery is well aligned towards entrepreneurial priorities.

I am an Indian by origin, brought up in USA while having a business background. I grew up in a fast moving environment where decision making holds great prominence in the success of any form of business. Now, we are witnessing almost the same pace of decision making in India. These changes will positively impact the economy and it’s country.