Scope for reform in energy sector: Modi

Scope for reform in energy sector: Modi

Niti Aayog on Monday said that India will get a new energy policy within 45 days, hours after Prime Minister Narendra Modi saw the scope for further reform in India’s energy sector.

“The status of the energy sector in India is highly uneven,” Modi said at a meeting, with oil and gas CEOs and experts from around the world. He said that the need to develop energy infrastructure and access to energy in Eastern India.

He flagged the potential of biomass energy and welcomed all possibilities for innovation and research in the oil and gas sector.

Modi met top CEOs and officials from Rosneft, BP, Reliance, Saudi Aramco, Exxon Mobil, Royal Dutch Shell, Vedanta, Wood MacKenzie, IHS Markit, Schlumberger, Halliburton, Xcoal, ONGC, Indian Oil, GAIL, Petronet LNG, Oil India, HPCL, Delonex Energy, NIPFP, International Gas Union, World Bank, and International Energy Agency. The meeting was coordinated by Niti Aayog.

Soon after the meeting, Niti Aayog CEO Amitabh Kant said that a new energy policy for the country will be within 30-45 days.

The Prime Minister appreciated focused suggestions made by the participants. A PMO statement quoted him as saying that the suggestions received earlier by the global CEOs have helped in policymaking. He said that scope for reforms in many areas still exists.
Modi also stressed on the need to develop energy infrastructure and access to energy in Eastern India. He flagged the potential of biomass energy and also invited participation and joint ventures in coal gasification. He welcomed all possibilities for innovation and research in the oil and gas sector.

He said that as India moved towards a cleaner and more fuel-efficient economy, its benefits would expand horizontally to all sections of society, and in particular to the poorest.

DH News Service

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