India will be investing $100 billion by 2024 in refining, pipelines, gas terminals says Union Minister Dharmendra Pradhan

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New Delhi: Union Petroleum and Natural Gas & Steel Minister Dharmendra Pradhan addressed delegates and captains from the energy industry at ENRich 2019, the 10th edition of KPMG India’s flagship Energy and Natural Resources Conclave. Shared my views on navigating energy transition to ensure secure, affordable, reliable & sustainable energy for all.

In the Indian context, we are putting in place the right mix of enablers to develop low carbon pathways for the industry and for the economy as a whole, a stand firmly reiterated by Hon. PM Narendra Modi at the UN Climate Action Summit in New York in September this year said Minister Dharmendra Pradhan .

India’s economic growth will be driven by heavy investment in infrastructure, digital economy and job creation in small & medium firms. Moving towards transforming India into a $5 trillion economy, our emphasis will be on both ease of doing business as well as on ease of living. The centrality of energy growth in a sustainable manner is a high priority for our government. We are finding ways to achieve the twin objectives of more energy and less carbon through a healthy mix of all commercially-viable energy sources. India took the lead in the global energy transition efforts by promoting the International Solar Alliance. Today, over 80 countries have joined the #ISA. India, with its huge appetite for energy, will be a driver of global energy demand in the coming decades said Minister Dharmendra Pradhan .

Oil &gas will continue to play a critical role in meeting our energy requirements,despite our system-wide energy transition measures. Inspite of electricity being seen as preferred means for energization,I see a larger role for our oil & gas companies in the overall energy play said Minister Dharmendra Pradhan .

Our strategy for sustainable energy growth is multipronged, including increasing share of renewables, leapfrogging to BS-VI fuels, expansion of CGD, development of national gas grid, creating suitable environment for adoption of biofuels and transforming into a gas-based economy said Minister Dharmendra Pradhan .

Hon. PM Shri Narendra Modi speaking at the FIIKSA at Riyadh last week, highlighted the integrated approach to infrastructure development in the country -with prime place for ‘One Nation One Power Grid’ and ‘One Nation One Gas Grid’. India will be investing $100 billion by 2024 in refining, pipelines and gas terminals. With political stability, predictable policies and a diverse market, there is no better place to invest other than India, especially for global investors in the energy domain said Minister Dharmendra Pradhan .

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