Pradhan invites global energy majors to invest in India

Pradhan invites global energy majors to invest in India

Union minister and BJP leader Dharmendra Pradhan. (PTI Photo)

Oil Minister Dharmendra Pradhan on Sunday invited global energy majors to invest in the world's fastest growing energy consumer, promising stable policy and regulatory regime.

Speaking at CERAWEEK conference's opening dinner here, he said as the government looks at New India of 2022, "I invite the global and Indian industry leaders to discuss solutions to enhance all four pillars of India's energy vision -- energy access, efficiency, sustainability and energy security."

India today is the 6th largest economy in the world and the 3rd largest energy consumer after the US and China, the minister said.

"India will be the key driver of global energy demand in the coming decades. In India, we are now prepared to accept every challenge," Pradhan said.

He said India is a vibrant democracy, stable polity with reform focused approach and strong institutional framework.

"I invite the global industry to become partners in our progress and tap huge investment opportunities available in the energy sector of India," Pradhan said, adding the government has taken several measures to overhaul the hydrocarbon policy framework to ensure investor-friendly environment.

He said global oil and gas majors like Saudi Aramco, ADNOC, BP, Shell, Total, Roseneft and ExxonMobil are making their significant presence in India.