India Press Releases

March 20, 2007

NEW DELHI – A two-day conference of energy experts from the U.S. and Asia on “Investment Opportunities in the South Asian Power Sector” began here today. The conference is jointly organized by the U.S. Agency for International Development (USAID), the Federation of Indian Chambers of Commerce and Industry and the South Asian Association for Regional Cooperation Chamber of Commerce and Industry.  

Emphasizing the economic potential of regional energy cooperation, a USAID representative at the conference said, “An additional $1.7 billion (Rupees 7,480 crores) per year could be earned by cross border trade in South Asia if the projects under discussion at this conference are realized.”

A number of cross-border trade projects that aim to eliminate power shortages throughout the South and Central Asian region will be discussed.  Power shortages are recognized as the leading constraint to economic growth throughout South Asia. 

Sushilkumar Shinde, Minister of Power, Government of India spoke at the inaugural session. Samuel Bodman, Secretary of the U.S. Department of Energy, will participate in the second day of the conference.

This conference continues the efforts of USAID’s South Asia Regional Initiative for Energy (SARI/E) program to promote competitive commercial practices and market structures in South Asian countries and to foster trade and investment in the energy sector.****