Have made policy reforms to attract global investment in energy sector: Pradhan

Our Bureau New Delhi | Updated on November 06, 2019 Published on November 06, 2019

Dharmendra Pradhan, Minister for Petroleum & Natural Gas and Steel. File photo   -  The Hindu

The Minister for Petroleum and Natural Gas, Dharmendra Pradhan, said that India has aligned its policy regime to attract global investment in the oil and gas sector.

Speaking at the ENRich 2019 - KPMG in India’s Annual Energy Conclave, Pradhan said, “India is developing energy infrastructure worth $ 100 billion. The major investments are in pipelines, refineries, terminals, new marketing plans, upstream and others. We have made policy reforms to make it conducive for foreign players to invest in this development,” he said.

India wants to build a decarbonised energy pathway, he added.

Responding to a query on the 10 per cent crude oil import reduction target by 2022, Pradhan said, “We are very much focused on that and with a derived timeline we would achieve this target.”

Pradhan said that India wants to be a leader in energy transformation happening across the globe.

“For that we will secure world class technology, capital business model and effect whatever domestic policy reforms are required. India wants to be the new destination for global energy players,” he said.

Published on November 06, 2019

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