You are here: Home » Economy & Policy » News » GST
Business Standard

Top oil companies' heads for bringing oil under GST, says Amitabh Kant

According to Kant, CEOs said that India has potential to become a gas-based economy

Press Trust of India  |  New Delhi 

CEO of NITI Aayog Amitabh Kant
CEO of NITI Aayog Amitabh Kant

Chiefs of several global and Indian companies, including Reliance Industries Chairman Mukesh Ambani, want petroleum products to be included in the Goods and Services Tax, CEO said. Briefing reporters about the today's meeting of CEOs of companies with Prime Minister Narendra Modi, Kant said global giants, including Saudi Aramco and Moscow-controlled giant Rosneft, have committed to increasing investment in India. The prime minister, Kant said, has assured the industry that the Centre would discuss the issue with the states which suffer from 'fear of the unknown'. Vedanta Resources Group Chairman Anil Agarwal said India is rich in mineral resources and hundreds of companies like Cairn India can function in India. Modi also underlined the importance of the development of infrastructure in eastern India and northeast India. According to Kant, CEOs also said India has potential to become a gas-based economy. Modi, also wanted to institutionalise the conference which is attracting CEOs from world top companies. Modi today met BP Plc Chief Executive Bob Dudley, Rosneft CEO Igor Sechin, Royal Dutch Shell's Project and Technology Director Harry Brekelmens, Saudi Aramco CEO Amin H Naseer, Exxon Mobil President for Gas and Power Rob Franklin, Reliance Industries Chairman Mukesh Ambani and Vedanta Resources head Anil Agarwal to discuss the and gas scenario. Government think-tank made a short presentation on the status, the likely scenario of demand and supply by 2030 and current government policies. OPEC Secretary General Mohammed Barkindo and Minister Dharmendra Pradhan also attended the meeting.

Former secretaries Vivek Rae and Vijay Kelkar too were invited.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, October 09 2017. 23:18 IST
RECOMMENDED FOR YOU