Impressed by the success of public private partnerships in creating critical infrastructure in the country, President Pratibha Patil said on Wednesday the potential of such ventures should be explored further for energy revolution and nation's development.
"It is time now for an energy revolution that will ensure our energy security," she said inaugurating a power, energy and telecom summit in Mumbai.
"Many infrastructure projects -- roads, highways and airports have come up through this route of Public Private Partnerships -- PPPs.
The viability of PPPs and their potential can be explored further in the development of physical and social infrastructure, that India needs today," she said.
"The public and the private sectors should put their expertise and resources towards a joint agenda for the nation's future growth. Inclusive growth demands significant contribution from the private sector", the President said.
Patil emphasised on 'innovation' in the field of science and technology to meet future challenges including growing demands for electricity.
"While there has been improvement in the power sector, the growth in demand for electricity has overtaken generation capacity and shortage of power continues to exist.
In the new age, a nation's ability to use existing knowledge, create new knowledge and use its knowledge capital will determine its ranking in the emerging global order.
"We need innovation more than before. Science and technology, has and will continue to play a decisive role in ushering change," she said.
The President, who is on a two-day visit to Maharashtra, said that going by the experience of a strong Indian economy, India will maintain a robust growth rate in the coming years.
"India is the fourth largest economy in the world on the basis of purchasing power parity and one of the fastest growing.
"That we were able to cope well during the global financial crises speaks of the underlying strength of our economy. We are confident that we will be able to maintain a robust growth rate in the coming years and that this will contribute to the welfare of all," she said.
"To achieve this, we are conscious of the need to address the shortcomings, which constrain growth and also remove impediments to the timely and effective implementation of our social welfare programmes and infrastructure projects," she said throwing open the '12th World Innovation Summit and Expo Comprising Power India and Constru India 2010' in Mumbai.
Patil said, "The country suffers from an infrastructure deficit, but we are focused on improving and augmenting our infrastructure, and are moving forward.
"Infrastructure in India is increasingly being viewed as a potential sector of growth and investment.
"Investors are looking towards becoming a part of India's growth story.
"As we are looking at the 12th Five-Year Plan from 2012 to 2017, we expect that investment in infrastructure is likely to double to $1 trillion as against the target of $439.46 billion in the 11th Plan," she said.
Pointing at the need of power linkages to provide electricity to all, she said it was the time to draw a multi-pronged strategy for energy revolution in the country.
"We also need to improve the national power grid linkages to optimally utilise generation resources of the country.
"I would advise all project developers to take all possible steps for timely execution of the projects so as to meet our objective of 'Power to All' by 2012.
"It is time now for an Energy Revolution that will ensure our energy security.
"Every effort should be made to reduce the cost of production and distribution of various sources of energy.
"Special emphasis and attention should be given to research and innovation in this area. A multi-pronged strategy can better provide for stable energy situations that are also environmentally sustainable," she said.
Patil also gave away India Tech Excellence Awards to various government departments and other organisations.
Governor K Sankaranarayanan, Chief Minister Ashok Chavan, Deputy Chief Minister Chagan Bhujbal and Union Power Minister Sushil Kumar Shinde were also present.
"As on today we have done a capacity addition of 29,000 MW in the country. . .The country will be exporting critical power equipment in the coming years," Shinde said.
Chavan said private sector in the power category have to be competitive so that power is available at reasonable rates to the public.
