• Skip to content
  • Skip to navigation

For more updates follow Grant Thornton Bharat on WhatsApp

Contact us
My bookmarks
  • Insights
  • Careers
  • Events
  • Golf
  • About Us
  • L&D Academy
  • Press room
  • Contact us
  • English
  • My bookmarks
Global site
  • Global site
  • Africa
  • Americas
  • Asia Pacific
  • Europe
  • Middle East
    Services
    Services
    • Global Delivery Services
    Services
    Grant Thornton offers best business advisory services for foreign and Indian companies. If you also want to do business in India, contact us!
    See Overview
    Consulting
    Adapt to dynamic markets with tailored solutions and expert business consultancy.
    See Overview
    • Digital Natives
      Unlock growth with Grant Thornton Bharat's Digital Natives solutions. Customised support for tech-driven companies in healthcare, gaming, and more.
    • Business Consulting
      Our business consulting specialists offer a comprehensive blend of strategic advisory services. We assess the business, industry, operating model, synergy, skill sets and vision of the organisation and recommend the way forward
    • Digital Transformation Services
      Grant Thornton’s digital transformation services help traditional businesses digitalise their business models with cloud technology, IoT consulting, app development and more DigiTech solutions.
    • Human Capital Consulting
      Our Human Capital Consulting team harnesses technology and industry expertise to assist in constructing adaptable organisations with transparency, fostering productive and value-driven workforces, and inspiring employees to engage meaningfully in their tasks.
    • Production Linked Incentive Scheme
      Production-linked Incentive Scheme by the Indian government is aimed at boosting manufacturing. Grant Thornton Bharat offers varied services across sectors to help businesses avail of this scheme.
    • Public Sector Advisory
      Our Public Sector Advisory team has focused streams, aligned with the core priorities of the Government of India. We are responsible for providing innovative and customized technical and managerial solutions.
    • Tech Advisory
      We have amalgamated Digital Transformation, IT Advisory & Information Management and Analytics into a new offering, DigiTech.
    Tax, Regulatory & Finance Consulting
    Tax advisory and advisory services in India by Grant Thornton aim to help businesses of all sizes to formulate and implement effective strategies to optimize...
    See Overview
    • Direct Tax services
      Our tax specialists offer a comprehensive blend of tax services, tax litigation, regulatory and compliance services, helping you navigate through complex business matters.
    • Indirect Tax Services
      Get tax services by leading tax firm Grant Thornton India. Our indirect tax services include consulting, compliance and litigation services for corporate, international and transaction tax
    • Transfer pricing services
      Our transfer pricing services experts provide a range of services from provision of APA services to handling large global assignments including Country by Country reporting.
    • US Tax
      At Grant Thornton, we help individuals and dynamic companies deal with US tax laws, which are one of the most complicated tax legislations across the world.
    • Financial Services - Tax
      Best financial advisory services, tailored for small and large businesses by the experts having comprehensive knowledge of domestic laws and access to multifaceted tools to provide a valuable results.
    • Financial Reporting consulting services
      Our experts have significant hands-on experience in providing IFRS/US GAAP services, end-to-end solutions and support services to fulfil financial reporting requirements.
    • Fund accounting and financial reporting
      International operations often lack standardisation and have varied local reporting formats and requirements. Our experts can offer proactive insights, practical guidance, and positive progress and help meet regulatory timeframes.
    • Compliance and Secretarial Services
      Our experts can assist in overhauling the entire compliance machinery of the organisation through evaluation of the applicable statutory obligations, monitoring of adequate governance controls, reporting and providing ongoing support.
    • Global People Solutions
      As businesses transcend borders, both domestic and global considerations need equal attention. Our interim CFO and financial controller support services help organisations meet the business vision.
    • Finance and accounting outsourcing
      Our accounting experts assist organisations in managing their accounting and reporting. Our dedicated Integrated Knowledge and Capability Centre (IKCC), allows us to service both the domestic and global markets efficiently and cost-effectively
    • Compliance Management System
      We have automation solutions for you that will allow meeting government requirements and remain diligent, which when failed, can lead to penalties and loss in revenue.
    • IKCC: Grant Thornton's Shared Service Centre
      The India Knowledge and Capability Centre (IKCC), aimed at delivering solutions by developing capabilities, has completed four years of its journey.
    • Global compliance and reporting solutions
      At Grant Thornton Bharat, we meet the challenges of our clients and help them unlock their potential for growth. Our professionals offer solutions tailored to meet our clients’ global accounting and statutory reporting requirements. With first-hand experience of local reporting requirements in more than 145+ locations worldwide, we provide seamless and consistent international service delivery through a single point of contact.
    • Related Party Transactions Governance
      Grant Thornton Bharat's comprehensive related-party transaction services ensure good governance by adhering to regulatory requirements, promoting transparency, and providing robust policies for compliance, documentation, and accountability in related-party transactions.
    • Family Offices & Private Client Services
      Grant Thornton Bharat Private Client Services offers tailored advisory for family-owned businesses, focusing on governance, compliance, tax, succession planning, and family office structuring to sustain wealth and preserve legacies across generations.
    • GTMitra: Tax & Regulatory Tool
      GTMitra, a specialised tax and regulatory tool by Grant Thornton Bharat, supports multinational businesses in understanding laws and regulations for effective growth strategies.
    • Labour codes
      Labour codes solutions help you transition through the new legislation. At Grant Thornton, we help businesses divide their approach to make sure a smooth transition.
    • Alerts
      At Grant Thornton India, with the help of our tax alerts, we help to provide updates on how to minimise your tax exposure and risks.
    • Unlocking opportunities: India investment roadmap
      The India Investment Roadmap resource is designed to navigate the complexities of Indian tax and regulatory laws, providing seamless guidance and a comprehensive set of solutions to ensure a smooth process for investors aiming to establish or expand their presence in India.
    Related insights:
    589x658px Hero Banner Adobe Stock 1048193015
    Newsletter Monthly Tax Bulletin: May 2025
    The May 2025 edition of the Grant Thornton Bharat Monthly Tax Bulletin captures key developments under the direct taxes, transfer pricing, indirect taxes, and FEMA, for April 2025.
    1 min read | 15 May 2025
    ESG & Risk Consulting
    Grant Thornton Bharat ESG and Risk Consulting provides expert governance, IT security, and forensic services, ensuring robust processes and controls for...
    See Overview
    • Cyber
      In today’s time, businesses have gone through large transformation initiatives such as adoption of digital technologies, transition to cloud, use of advanced technologies et al.
    • Governance, Risk & Operations
      Our Governance, Risk and Operations (GRO) services encompass Internal Audit, Enterprise Risk Management, Internal Financial Controls, IT advisory, Standard Operating Procedures and other services.
    • Risk analytics
      Grant Thornton Bharat’s CLEARR Insights is a state-of-the art data analytics platform that will help you in seamless data analysis and efficient decision-making.
    • Forensic & Investigation Services
      The team of forensic advisory services experts consists of the best intelligence corporate experts, and fraud risk, computer forensic experts to deliver most effective solutions to dynamic Indian businesses.
    • ESG consulting
      Grant Thornton Bharat offers holistic ESG consulting solutions for sustainable business outcomes. With industry expertise and AI technology, we drive long-term value.
    Related insights:
    Grant Thornton Bharat sustainability report 2023-24
    Thought Leadership Grant Thornton Bharat sustainability report 2023-24
    The inaugural edition of our Sustainability Report 2023-24 marks a significant milestone in our journey towards integrating environmental, social, and governance (ESG) principles into our core business operations.
    31 Mar 2025
    Deals Consulting
    Supporting you to grow your business profitably through our partner-led deals service.
    See Overview
    • Transaction Tax Services
      Our transaction tax experts understand your business, anticipate your needs and come up with robust tax solutions that help you achieve business objectives ensuring compliance and efficiency
    • Deal Advisory
      Unlike other M&A advisory firm in India, we offer deal advisory services and work exclusively with controlled and well-designed strategies to help businesses grow, expand and create value.
    • Due Diligence
      Grant Thornton’s financial due diligence services are aimed at corporate looking for mergers and acquisitions, private equity firms evaluating investments and businesses/promoters considering sale/divestment.
    • Valuations
      As one of the leading valuation consultants in India, Grant Thornton specializes in all the aspects of the process like business valuation services, financial reporting, tax issues, etc.
    • Overseas Listing
      Overseas listing presents a perfect platform for mid-sized Indian companies with global ambitions. Grant Thornton’s team of experts in listings, work closely with clients during all stages.
    • Debt & Special Situations Solutions
      Grant Thornton Bharat offers specialist debt and special situations consulting services, including restructuring, insolvency, and asset tracing solutions.
    Assurance Services
    Grant Thornton Bharat offers tailored assurance and auditing services in India, ensuring NFRA compliance, sector expertise, and risk-based audits for credible...
    See Overview
    • Financial Reporting Advisory Services
      Grant Thornton Bharat Financial Reporting Advisory Services offer end-to-end solutions for complex financial requirements, including GAAP conversions, IPO support, and hedge accounting advisory, ensuring accurate financial reporting and compliance.
    • Financial Statement Audit and Attestation Services
      Grant Thornton Bharat offers customised financial statement audit and attestation services, ensuring impeccable quality and compliance with global standards. Our partner-led approach, technical expertise, and market credibility ensure effective solutions for your business needs.
    Related insights:
    Quarterly GAAP Bulletin – April 2025
    Thought leadership Quarterly GAAP Bulletin – April 2025
    The latest edition of the Quarterly GAAP Bulletin summarises significant accounting, auditing and regulatory updates, compiled to meet the needs of dynamic Indian businesses and focuses on key developments in India and across the globe.
    01 May 2025
    Global Delivery Services
    Grant Thornton’s Global Delivery Services works to provide innovative multi-disciplinary solutions across service lines and expertise areas, with a global...
    See Overview
    Industries
    Industries
    • Agriculture
    • Asset management
    • Automotive and EV
    • Aviation
    • Banking
    • Education and ed-tech
    • Energy & Renewables
    • Engineering & industrial products
    • Fintech
    • FMCG & consumer goods
    • Food processing
    • Gaming
    • Healthcare
    • Urban infrastructure
    • Insurance
    • Media
    • Medical devices
    • Metals & Mining
    • NBFC
    • Pharma, bio tech & life sciences
    • Real estate and REITs
    • Retail & E-commerce
    • Specialty chemicals
    • Sports
    • Technology
    • Telecom
    • Transportation & logistics
    • Tourism & hospitality
    Industries
    Helping you shape the future of your industry
    See Overview
    Agriculture
    We offer top-tier agriculture consulting services, tackling challenges and driving growth in India's agri-industry. Discover our expert solutions now.
    See Overview
    Related insights:
    • Co-lending in India: Expanding credit access for MSMEs
      Thought leadership Co-lending in India: Expanding credit access for MSMEs
      In today’s rapidly evolving financial landscape, co-lending has emerged as a key enabler of credit expansion in India, facilitating partnerships between banks and non-banking financial companies (NBFCs) to extend credit more efficiently to underserved segments.
      02 Apr 2025
    • 554x544px website photograph 465
      Article Why India’s financial inclusion journey needs to focus on equity and access to credit
      Financial services have expanded over a decade, giving millions access to bank accounts and digital payments. But true empowerment needs to reach every corner of the country if growth is to be long-term and sustained
      Dharmender Jhamb
      | 4 min read | 03 Mar 2025
    • Competitive and sustainable agriculture & food processing in Kerala
      Thought Leadership Competitive and sustainable agriculture & food processing in Kerala
      The economy of Kerala is primarily driven by the services sector, which contributes 66% to the Gross State Domestic Product (GSDP).
      19 Feb 2025
    • Economic Survey 2024-25: Deregulation, investment and innovation for a Viksit Bharat
      Article Economic Survey 2024-25: Deregulation, investment and innovation for a Viksit Bharat
      India's economic growth remains for a steady trajectory with real GDP expected to grow at 6.4% in FY25 and in the range of 6.3%-6.8% in FY26, reflecting resilience despite global uncertainties.
      31 Jan 2025
    Asset management
    We delivers tailored asset management consulting, from governance to technology transformation, enhancing growth and compliance.
    See Overview
    Automotive and EV
    We offers expert automotive consulting for building better mobility businesses, navigating EV transitions, and staying ahead globally.
    See Overview
    Aviation
    Elevate your aviation business with expert consulting services. From strategy to implementation, we guide you towards success in a dynamic industry.
    See Overview
    Banking
    We offers expert banking consulting services, including regulatory compliance, risk management, governance, and transformation solutions.
    See Overview
    Education and ed-tech
    Elevate your education sector with expert consulting services. Navigate challenges, innovate, and achieve excellence with our guidance.
    See Overview
    Energy & Renewables
    Elevate your energy sector with our expert renewable consulting services. We guide you towards sustainable solutions for a brighter future.
    See Overview
    Engineering & industrial products
    Our engineering consulting empowers firms with digitization, strategy, and market insights for sustainable growth.
    See Overview
    Fintech
    We specialize in fintech consulting services, offering tailored solutions for industry challenges like risk management, regulatory compliance, and finance...
    See Overview
    FMCG & consumer goods
    Explore our consumer goods consulting services, covering direct-to-consumer strategies, supply chain optimization, and shop floor transformation.
    See Overview
    Food processing
    Elevate your food processing industry with expert consulting. Unlock growth, minimize waste, and drive economic prosperity for India's future.
    See Overview
    Gaming
    Unlock new levels of success in the gaming industry with Grant Thornton Bharat. Expert gaming consulting, regulatory compliance, tax advisory, and deals...
    See Overview
    Healthcare
    Grant Thornton Bharat healthcare consulting experts facilitating strategic planning, operational execution, and regulatory compliance for sustainable growth.
    See Overview
    Urban infrastructure
    We offers infrastructure consulting to help cities build competitive advantage, mitigate risks, improve efficiency, and create flexible organizations.
    See Overview
    Insurance
    Our experts provides comprehensive insurance consulting services, addressing complex challenges and opportunities in the evolving insurance landscape.
    See Overview
    Media
    Our team of media and entertainment consulting experts crafts strategies and capabilities, empowering companies to adapt to today's industry trends.
    See Overview
    Medical devices
    Unlock growth potential in India's medical device market with Grant Thornton Bharat expert consulting. Navigate regulations and innovate for success.
    See Overview
    Metals & Mining
    We offers metals & mining consulting services to firms with digital integration, collaborative strategies & data-driven insights for growth.
    See Overview
    NBFC
    Grant Thornton Bharat offers tailored strategic guidance, robust risk management, and innovative solutions for NBFCs, enhancing performance and compliance.
    See Overview
    Pharma, bio tech & life sciences
    Navigate towards sustainable success in the health-outcomes-driven ecosystem with our Life Sciences consulting services.
    See Overview
    Real estate and REITs
    Unlock growth opportunities by turning critical real estate issues into success with Grant thornton bharat expert real estate consulting services.
    See Overview
    Retail & E-commerce
    Unlock bold visions for your online and e-commerce channels with Grant Thornton Bharat digital expertise and strategic guidance. Explore now.
    See Overview
    Specialty chemicals
    We offers specialized chemical consulting services, leveraging advanced analytics for informed decisions. Enhance your industry advantage now!
    See Overview
    Sports
    We provide sports consulting services that help organisations and governments, regardless of size, enhance their value through strategic planning, business...
    See Overview
    Technology
    Elevate your business with custom tech solutions. Navigate challenges & seize growth opportunities with Grant Thornton Bharat technology consulting services.
    See Overview
    Telecom
    Unlock growth potential in India's booming telecom market with Grant Thornton Bharat strategic consulting services. Trusted partners across the value chain.
    See Overview
    Transportation & logistics
    We offers innovative transportation solutions, navigating industry changes for impactful results in a dynamic business landscape.
    See Overview
    Tourism & hospitality
    Grant Thornton Bharat offers tourism consulting services, helping clients achieve competitive advantage in India's dynamic tourism and hospitality industry.
    See Overview
    Our global presence
    • Global Indian Programme
    International Corridors
    Are you seeking global opportunities? Whether it's establishing operations, enhancing capacities, or making acquisitions, we're here to help.
    See Overview
    • India-UK
      India-UK
    Global Indian Programme
    Helping Global Indians with cross-border investment, expansion and mobility.
    See Overview
    • Contact us
    • English
    • My bookmarks
    1. Home
    2. Press releases
    3. 2014
    4. $250b power push on the cards

    $250b power push on the cards

    06 Nov 2014

    $250b power push on the cards

    Generation to double in 5 years, solar power to contribute 1 lakh mw, wind power 40,000 mw

    The power revolution could be on the way. The government, which has promised to provide electricity to 1.25 billion people by 2019, expects a $250 billion investment in the power sector in the next 4-5 years, including $100 billion in renewables by scaling up the solar power target five fold to one lakh mw.

    “I visualise an investment of nearly $250 billion in the (power) sector in the next four or five years…The government is targeting $100 billion of investment in renewables and $50 billion in transmission and distribution to create a national grid where power can flow seamlessly,” power minister Piyush Goyal said at a global industry meet on Thursday.

    India now has a total power generation capacity of 2,50,000 mw including renewables and with this investment, the government expects to virtually double generation to over 4,50,000 mw. About 53 million homes in the country are yet to get electricity and many industries depend on diesel generation sets to meet their requirements due to power shortage.

    India today generates a mere 3,000 mw of solar power, originally scheduled to be scaled up to 20,000 mw by 2022. With this addition, generation would go up to one lakh mw. Wind power, which has 22,000 mw capacity, will go up to 40,000 mw.

    The government seeks to avoid a repeat of 2012 when one of the world’s biggest blackouts hit large parts of northern India, Goyal said, adding nuclear power too offered the potential to help resolve India’s energy shortages.

    But at the same time government wanted to ensure that it is not saddled with a nuclear technology that is discarded by the west, he added.

    The power minister announced that the government would also double coal production to one billion tonnes by 2019 to meet its energy requirements.

    The goals set by Goyal are welcome, but Grant Thornton India LLP partner, HV Harish, said there are several unresolved issues in the power sector, which need to be addressed. For starters, what is required a desirable mix of nuclear, thermal, hydel and other sources.

    Each of these has its own peculiar issues, which need to be addressed. “We also need to tackle the challenges of environmental issues that arise from power projects,” he said, adding, “We need to be creative in involving the private sector and work on creating the power revolution just like the telecom revolution.”

    Goyal said that India’s total power consumption would double to 2 trillion units by 2019 and the majority of investments would come from the private sector, although the government would also invest more. As many as 400 million Indians are still not connected to the grid, while the average Indian household uses about a third of the power consumed by a family in China.

    In thermal power, the ultra mega power projects (UMPP) in the pipeline are the 4,000 mw Bedabahal project in Odisha and 4,000 mw Cheyyur in Tamil Nadu. The two together would involve an investment of $10 billion. From the solar stable, the major projects include Sambhar Solar project in Rajasthan, a 4,000-mw project with an estimated investment of Rs 30,000 crore and the ultra mega solar project in Gujarat with a capacity of 4,000 mw and Rs 30,000 crore as investment. With the resolution of coal allocation issue recently, investments close to Rs 3 lakh crore are expected in this segment from private players, including JSPL, Essar, Tata Power and Adani over the next three to four years. NTPC is expected to invest more than Rs 50,000 crore till 2017 to add about 10,000 mw of capacity.

    In wind power, an investment to the tune of Rs 90,000 crore is expected for putting up a new capacity of about 15,000 mw. Close to 3,000 mw of nuclear capacity is expected to come up over the next four years with an investment of about Rs 20,000 crore. Two mega solar power projects of 4,000 mw each in Gujarat and Rajasthan have already been conceived with an investment of Rs 60,000 crore. The government, which plans to invest $1 trillion in infrastructure including power, had no major funding issues in the past though there was some struggle to attract foreign investment into the power sector because of low tariffs.

    Some funding constraints are emerging with huge NPAs of banks to the tune of Rs five lakh crore, mainly due to stalled projects in the power sector. The government will now have to look at massive funding from abroad as well as alternative source of long-term funds like corporate bonds, insurance and pension funds.

    “The most important thing for infrastructure-related investments is how to make the project bankable,” Masakazu Sakakida, MD of the Indian arm of Japan’s Mitsubishi Corp, said earlier this week. “In a coal based power plant, the price of electricity is almost fixed, it’s not related to the price of the coal.”

    Hanwha Group’s MD, Dong-Kwan Kim, said if the government could provide a stable regulatory environment, “investors are ready to flock to India.” Kim raised the issue of air quality and questioned coal’s role as a sustainable energy option. “As India doubles capacity in power generation I think [air pollution] is going to become a more political issue.’’

    Gangadhar Rao, COO manufacturing, at Lanco Solar, said the investment plan of $100 billion on solar power is doable and would cater to the aggressive target of 100,000 mw of solar power capacity. Globally the annual capacity is around 50 gw, which is expected to go up to 80 gw by 2017-18. By then India would contribute around 20 per cent of the world capacity.

    All states have individually announced around 500 mw of solar capacity every year in addition to the JNNSM plan of the central government. The government also plans to set up the solar mega parks, which would be of minimum 500 mw capacity and would require huge investments. The investment would come handy in development of the sector. From next year itself, India would start to produce around 4 gw to 5 gw of solar power. Sudershan Gupta, executive vice president strategy and IPP at Jakson Power, said the very fact the government revised its target to 100 gw by 2022, requires aggressive funding and the $100 billion announcement for solar power is just the back up for the target set.

    “If the hype generated by the government for India is backed by deeds we can expect foreign funds to flow into the country for any project of this nature. Though we will have to protect the domestic manufacturers with adjusted quota, they will have to scale and ramp up drastically if they will have to match the imports especially of modules,” said Gupta.

    The article appeared in the Financial Chronicle. The article can be found here.

    GTB 90yrs in Bharat Logo
    To get in touch with our experts
    Click here

    CONNECT CONNECT

    • Locations
    • Contact us
    • Global reach

    ABOUT ABOUT

    • About us
    • Careers
    • #GTBharat Alumni Community

    LEGAL LEGAL

    • Privacy
    • Disclaimer
    • Site map

    OUR SERVICES OUR SERVICES

    • Consulting
    • Tax, Regulatory & Finance Consulting
    • ESG & Risk Consulting
    • Assurance
    • Deals Consulting

    Follow usFollow us

    © 2025 Grant Thornton Bharat LLP. All rights reserved. Grant Thornton Bharat LLP is registered under the Indian Limited Liability Partnership Act (ID No. AAA-7677) with its registered office at L-41 Connaught Circus, New Delhi, 110001, India, and is a member firm of Grant Thornton International Ltd (GTIL), UK. The member firms of GTIL are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered independently by the member firms. GTIL is a non-practicing entity and does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions.

    Sign in with LinkedIn Close
    Sign in with LinkedIn to save articles to your bookmarks.
    Privacy policy