Thursday, June 27, 2013: The US EXIM Bank or the Export-Import Bank is set to work in close association with India’s projects on new and renewable energy. The bank would be financing both at the national and state levels as the latter have shown a huge inclination towards renewable energy generation lately.
Fred Hochberg, the President and Chairman of the EXIM Bank is slated to visit the country as a representative of the US delegation for the bilateral strategic dialogues. India’s account in the US EXIM bank is estimated to be around the $8.2 billion mark and according to Hochberg, there is a greater transparency and clarity in the Indian system and policy making structures.
However, we still have to adopt the “wait-and-see” policy with the General Elections on the forefront in the country. According to him, there has been a better clarity in recent weeks than it was five or six months before.
However, the degree of caution is not eliminated. In terms of immediate prospects, one shouldn’t yet jump to conclusions. Hochberg also added that India is a great democracy similar to the US and things would probably go the same way like it does before every election. There has been a hint of “pause” in the renewable energy sectors, which is also the area of focus for the US EXIM Bank. The delegates had visited India this January 2013. He would be visiting the $9 billion Reliance factory at Jamnagar on 27 June 2013.
