Mr. Kataru Ravi Kumar Reddy, Chairman of ASSOCHAM Telangana and Andhra Pradesh State Development Council and CMD of Axis Energy Group, represented at the India-Maldives Business Forum held in Bangalore. This event was in honour of His Excellency Dr. Mohamed Muizzu, President of the Republic of Maldives. The forum aimed to strengthen business ties between India and the Maldives, highlighting opportunities for collaboration in various sectors. The forum was held on the sidelines of the ongoing state visit to India being undertaken by the President.
The Associated Chambers of Commerce & Industry of India (ASSOCHAM) is the country’s oldest apex chamber. It brings in actionable insights to strengthen the Indian ecosystem, leveraging its network of more than 4,50,000 members, of which MSMEs represent a large segment. With a strong presence in states, and key cities globally, ASSOCHAM also has more than 400 associations, federations and regional chambers in its fold.
Aligned with the vision of creating a New India, ASSOCHAM works as a conduit between the industry and the Government. The Chamber is an agile and forward-looking institution, leading various initiatives to enhance the global competitiveness of the Indian industry, while strengthening the domestic ecosystem.
Mr. Reddy’s participation underscored the importance of regional cooperation and economic growth in the South Asian context. He has briefed attendees at the India-Maldives Business Forum on the critical importance of renewable energy and hydrogen power. He emphasized the need for Clean Energy solutions in both countries, highlighting how these technologies can reduce carbon footprints and promote energy independence.
Mr. Reddy outlined the various forms of renewable energy and discussed their potential to address energy demands while supporting economic growth. Key technologies discussed included Solar Photovoltaics, Floating Solar Photovoltaics, Green Hydrogen, Waste-to-Energy solutions, and Offshore Wind Energy—all of which offer viable paths for the Maldives’ green energy transition. He also focused on hydrogen power as a versatile and clean energy source, detailing its applications in transportation, industry, and power generation. He explained that Green Hydrogen, either through Hydrogen-powered Internal Combustion (IC) engines or Fuel Cell-powered vehicles, could provide an eco-friendly alternative to conventional fuel-powered transportation.
Mr. Reddy stressed the importance of collaboration between India and the Maldives in advancing renewable energy projects. Mr. Reddy pointed out the opportunity for India and the Maldives to form a strategic partnership in the production and utilization of Green Hydrogen. India, with its expanding clean energy capabilities, could produce Green Hydrogen that the Maldives could then import for use in sectors such as transportation and energy generation. He advocated for joint initiatives, investment opportunities, and knowledge sharing to accelerate the transition to a greener energy landscape in the region. By leveraging technological innovations and fostering partnerships, both Nations can play a pivotal role in the global shift toward sustainable energy.
The President emphasised the importance of sustainable tourism, the Maldives’ dedication to renewable energy solutions, and its ongoing efforts to enhance climate resilience. He invited Indian investors to explore opportunities in these areas including renewable energy, emphasising that their expertise could foster a sustainable future, boost the Maldivian economy, and support global climate action.
Mr. Reddy expressed his gratitude to the Government of Republic of Maldives, the business community, and all those involved in making his visit a success.
