Monday, Oct 3 2022 | Time 07:00 Hrs(IST)
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India


Invest in India's energy sector and partner in shared prosperity, PM tells oil majors

Invest in India's energy sector and partner in shared prosperity, PM tells oil majors

New Delhi, Oct 27 ( UNI) Prime Minister Narendra Modi has urged world's biggest Oil and Gas companies to invest in India, saying the country's growing energy sector offers tremendous opportunities, as it is also aiming to be a manufacturing and exporting hub of chemicals and petrochemicals.
Mr Modi had an "extensive' interaction with CEOs and experts associated with the sector and discussed the wide range of opportunities India offers.
He drew their attention to the policy reforms his government has undertaken such as allowing 100 per cent FDI in projects of exploration and production and 49 per cent FDI in refining in PSUs through the automatic route.
The prime minister informed that India is moving towards a gas-based economy and is building gas pipelines to achieve a One Nation, One Gas Grid network.
Besides all this, India, as per it's Neighborhood First foreign policy, has been having energy engagements with Nepal, Bangladesh, Sri Lanka, Bhutan and Myanmar.
Mr Modi then invited the energy majors to partner with India in its shared prosperity by enhancing production of all kinds of energy like solar, wind, tidal, beside the fossil fuel.
The interactive session held on Monday was attended by 40 CEOs, of whom 28 presented their perspectives and views.
They included Abu Dhabi National Company, BP, Total, Rosneft and groupings like OPEC and IEA.
"Like the 7 horses driving the chariot of the Sun God, India's energy map will have 7 key drivers. He (PM) said there will be continuity of robust energy policies that have been in place over last 6 years," said Amitabh Kant, CEO, NITI Ayog, which organised the event with the Petroleum ministry.
UNI SRJ JW1655

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