Oil And Gas Sector To Play An Important Role In Double Digit Growth Trajectory Of Indian Economy

Union Minister of Petroleum and Natural gas &Steel Dharmendra Pradhan today said that Energy is the catalyst of socio-economic change. Speaking at the symposium on fuels and lubricants, he said that Investment of billions of dollars in the Oil and gas sector will bring in more job opportunities, leading to trickledown effect to drive Socio-economic growth.The sector will play an important role in double digit growth trajectory of the Indian economy, he added. Pradhan said that India is the third largest consumer of fuel in the world but will soon reach the top as the per capita consumption in the country is on the rise. He said that the energy requirement for the future will be met through Cleaner, greener and sustainable sources, and for this, continuous R&D efforts are called for.Talking about the policy reforms in this direction, he mentioned about the PMUY, Ethanol blending, Compressed Bio Gas, bio-diesel, Coal to Syn gas, and promoting LNG as a priority transport fuel. On policy side, concrete investment plan, clarity about future targets and robust implementation strategy are bringing in a new paradigm.

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