By M. Niba *
LUCKNOW, India (IDN) – Private sector is playing a very important role to secure the UN Sustainable Development Goals. There is an inherent link between the SDGs and PPPs. The business enterprises contribute toward the development process not only through their competitive advantages but also via increased access to capital and incorporating innovation in their practices.
Indian companies have over the years built a competitive advantage in the delivery of highly cost-effective technological and business solutions and are renowned for their expertise across the globe.
TARA InfraPower Private Ltd. of Lucknow, Uttar Pradesh has ventured to undertake the recently approved 600 MW total capacity “Super Critical Environment Friendly Thermal Coal Based Power Plant” in Foul Point, Trincomalee, Sri Lanka as its maiden overseas enterprise.
The exercise undertaken by TARA InfraPower in Sri Lanka is a wonderful example of South-South Cooperation to secure regional and localised Sustainable Development. Along with the Ceylon Electricity Board (CEB) under the Ministry of Power and Energy of the Government of Sri Lanka and Harcan Engineering Company Ltd., the project worth USD 1 Billion would help meet the local electricity and power needs, while making Sri Lanka self-sufficient in the energy sector.
TARA InfraPower was established in the year 2010 in Lucknow, Uttar Pradesh to carry out projects in the infrastructure sector successfully. In the last ten years, TARA InfraPower has executed many leading projects across India.
Mr. Najmi J. Mirza, Chairman of TARA InfraPower said that he got inspiration for this partnership from the ‘Make in India‘ Mantra of Prime Minister Narendra Modi. The first overseas venture of TARA InfraPower in Sri Lanka is a great example of the magnificent vision Honorable Chief Minister Shri Yogi Adityanath has for taking the state of Uttar Pradesh on the path of development and progress.
Under the spirit of South-South Cooperation, TARA InfraPower is also looking forward to venture into other developing countries of Africa and South America shortly, and contribute toward the process of sustainable development and empowerment of societies.
South-South Cooperation is an important priority for India not only for the private sector but also for the government. Earlier in the month of August 2020, India contributed $15.5 Million to the India-UN Development Partnership Fund managed by the United Nations Office for South-South Cooperation (UNOSSC) which was established to promote, coordinate and support South-South and triangular cooperation globally and within the United Nations system.
Former Ambassador of India Rajiv Bhatia who is currently a Distinguished Fellow at Gateway House and is a member of the Confederation of Indian Industries, CII’s, International Trade Policy Council had recently mentioned – “It is clear to all now that Sri Lanka now has a very stable government. The Rajapaksas are once again all-powerful there. India now has to now manage the relationship well. We need to be seen to be in the game.”
Ambassador Bhatia had also served as the Chair of the Federation of Indian Chambers of Commerce and Industry, FICCI’s, Core Group of Experts on BIMSTEC and continues to head its Task Force on the Blue Economy.
In February 2020, the Observer Research Foundation (ORF) noted that Prime Minister Modi appreciates Sri Lanka’s importance not only to India but to the entire Indian Ocean Region. Stability, security and prosperity in Sri Lanka are essential elements for ushering peace and prosperity in the Indo-Pacific region.
A stable government for the next five years in Sri Lanka would pave way to set in policy-changes. More importantly it shall help prioritise the nation’s economy which shall be a focus area for a considerable length of time.
The venture by TARA InfraPower in Sri Lanka is a heartening news both for the Indian and global economy currently battling the woes of COVID-19. It is expected that affordable power supply by the said power project will play an important role in Sri Lanka’s industrial development, and the news has generated a lot of enthusiasm among the local and international business and investment community.
It is also a worthy case study of South-South cooperation which helps enrich the economic, social, cultural, environmental and technical domains. Here countries share knowledge, skills, expertise and resources to meet their development goals through concerted efforts. This Triangular Cooperation shall further regional integration, technology transfers, sharing of solutions and experts, and other forms of exchanges. [IDN-InDepthNews – 22 August 2020]
* M. Niba is pursuing the final year of BA-Philosophy (Honours) from Lady Shri Ram College, University of Delhi and is interested in UN Sustainable Development Goals.
Image courtesy: TARA InfraPower
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