$5-trillion economy goal may trip without more power capacity: L&T Power CEO Shailendra Roy
MUMBAI: India needs to start adding to its power generation capacity if it hopes to support industrial growth to achieve its ambitions of becoming a $5 trillion economy by 2024-25, and the government needs to take the lead as private companies are not in a position to invest in the sector, said the head of power business at Larsen & Toubro.
The government has set a target of $3 trillion economy by the end of 2019-20, and of propelling the country to a $5 trillion economy by 2024-2025, which requires 8-9% growth every year for the next few years, as compared to the five-year low of 6.8% clocked in 2018-19.
“India is aiming to be a $5 trillion economy in the next five years, for which industrial growth needs to accelerate. If we don’t add power generation capacity now, that plan will be unachievable,” L&T Power CEO Shailendra Roy told ET in an interview.
