Davos 2024: India To Be Key Player In Green Ecosystem, Says INOX Group's Siddharth Jain

India will be a key player in the green energy ecosystem as a global supplier of technologies and solutions, according to INOX Group's Siddharth Jain.

"India's name is getting more prominent in business and geopolitical front. Everybody is looking at India as a stable option. We are looking at 6-8% growth over the next decade," Jain, promoter and director of the diversified conglomerate, told NDTV Profit's Niraj Shah on the sidelines of the World Economic Forum 2024 in Davos.

The INOX Group has signed an MoU with the Maharashtra government to invest $3 billion in a green ammonia project of half a million tonne, he said. The commodity will be produced for both export and domestic use.

Semiconductors and electronic manufacturing are also the focus areas of investment commitments in Davos, he said, highlighting INOX Group's partnership with U.S. chipmaker Micron Inc. and Taiwanese manufacturer Foxconn.

Cryogenics Innovation

Talking about INOXCVA, the cryogenics equipment manufacturing business, Jain said the company has developed an indigenous liquid helium container—a feat achieved by only three other countries.

"More than technology, it's the application of cryogenics that is increasing. Our strength is design, engineering, manufacturing and installation of these complex cryogenic and vacuum systems globally," he said, listing some of the company's top clientele in Europe.