The Prime Minister while inaugurating at the Vigyan Bhawan, the Petrotech 2016 oil and gas exhibition promised to reduce the disparity in the energy access by the rich and poor in India and his vision for the future of energy sector was to focus on access, efficiency, sustainability and security.
The Prime Minister Narendra Modi said, “In India while on one hand rich are buying hybrid cars, poor buy firewood, bringing health hazard to the rural women. Our focus is to reduce that disparity.”
He also said that India needs energy which was accessible to poor and the Prime Minister urged the youth to venture into the oil and gas sector while stressing on the need to increase domestic production and reduce oil imports by 20 percent by 2022.
Modi said, “We need to find out an affordable and reliable source of energy... youth should venture into this sector and find innovative ways for India's oil security.”
He states that government would give all possible support ensuring the Indian Oil and gas companies to go multinational.
He said, “We are committed to replacing red tape by the red carpet.”
The Prime Minister said that his government was working to ensure tht every village in India got electricity by March 2018 while stressing on the energy accessibility and energy security in India.
Over 300 million people in India do not have access to electricity. He said, “Amid the global uncertainities, India needs energy security.”
For the future of the sector Modi said that “energy in genral” and “hydrocarbon in particular” were important part of his vision.
The Prime Minister Narendra Modi said, “India will consume more oil in 2040 than the whole of Europe... transport infrastructure is expected to increase many fold.We will be third largest market in civil aviation by 2034 and demand of civil fuel will increase four folds.”
He further added, the rapid growth placed large responsibility on India’s Hydrocarbon sector. After that he parised the Indian economy for being one of the rate stables ones while uncertainly looms over many developed countries, the Prime Minister Modi also called for India’s global commitments to climate change and emission reduction.
In the inaugural session which was opened by the Union Petroleum and Natural Gas Mnister Dharmendra Pradhan called the oil and gas sector as emerging vehicle for socio-economic change in the country.
About 600 exhibitors would participate from over 50 countries in the Petrotech 2016 exhibition. The schedule of the exhibition from December 4 to 7 at Pragati Maidan.
--with agency inputs
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