MARCH 20258TEXTILES, TOURISM, & TECHNOLOGY TO PLAY KEY ROLE IN JOB CREATION: PM MODINTPC AND EDF INDIA TO DRIVE NEXT-GEN HYDROPOWER AND CLEAN ENERGYLooking ahead to India's development trajectory, Prime Minister Narendra Modi highlighted that the textile, tourism, and technology sectors will be instrumental in generating millions of new jobs. He emphasized that investments in these industries will enable them to make a global impact at a time when the world is looking to India with optimism and anticipation. Speaking at the inauguration of the Global Investment Summit organized by the Madhya Pradesh government in Bhopal, Modi also In a strategic move to bolster India's energy transition, state-owned power giant NTPC and EDF India, a subsidiary of France's Electricite de France, have signed a non-binding term sheet to collaborate on pumped storage hydropower and hydropower projects bundled TOP STORIESwith renewable energy. The partnership will also explore opportunities in power distribution, reflecting a broader push for sustainable energy solutions.According to the signed agreement, NTPC and EDF India intend to establish a joint venture company (JVC) with an equal 50:50 partnership, pending necessary approvals from the Government of India. This JVC will take charge of developing, owning, managing, and sustaining pumped storage and additional hydropower projects, both in India and in adjacent nations."This JV company will undertake such projects on its own or may create JV and subsidiaries for undertaking such projects within India and neighbouring countries," the statement said. Additionally, the venture will focus on integrating hydropower with renewable energy sources and evaluating distribution business opportunities.NTPC Ltd, the largest integrated power utility in India, presently satisfies one-fourth of the nation's energy requirement with a capacity exceeding 77 GW. EDF India, a branch of the French state-owned Electricite de France SA, offers international knowledge in both renewable and traditional power generation, enhancing India's goals for clean energy. noted that the state has the potential to rank among the top five in the country in terms of GDP.Arguing that states should build on their strengths, Modi gave the example of the textiles sector. "India was the second-largest producer of cotton, silk, polyester, and viscose. India also had a rich tradition, skills, and entrepreneurship in textiles. Madhya Pradesh, being the cotton capital of India, contributes to around 25 per cent of the country's organic cotton supply and is the largest producer of mulberry silk while the state's Chanderi and Maheshwari sarees are highly appreciated and have received the GI Tag." The investments in this sector will take Madhya Pradesh's textiles to a global scale.Modi highlighted the need to go beyond tradition.Prime Minister Modi emphasized the importance of expanding beyond traditional textiles to promote technical textiles, such as agro textiles, medical textiles, and geotextiles. He revealed that a national mission has been launched for this purpose, which has been supported in the current budget. Modi also pointed out the Government's PM MITRA scheme, which is well-known, and highlighted the development of seven large textile parks across the country, including one in Madhya Pradesh. Additionally, the prime minister encouraged investors to capitalize on the Production-Linked Incentive (PLI) scheme introduced for the textile sector.
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