SME Times News Bureau | 06 Nov, 2019
Union Minister of Petroleum
and Natural Gas & Steel Shri Dharmendra Pradhan has said that Global energy
system is transforming at an unprecedented pace.
Participating in the ENRich
2019 - KPMG India’s Annual Energy Conclave on Wednesday, Pradhan said India,
too, is in the midst of a major transformative shift in its energy sector.
“In India we are finding ways
to achieve the twin objectives of more energy and less carbon through a healthy
mix of all commercially-viable energy sources. India will chart its own course
of energy transition in a responsible manner.” the Minister said.
Speaking at the event about sustainable growth, he
said the centrality of energy growth in a sustainable manner is a high priority
of the government.
There is unprecedented advancement, on both the
demand and supply sides of the equation, as the world and India seek out more
benign methods to advance global growth and welfare. He further said the
trajectory to end energy poverty in India, as compared to the rest of the
world, would be based on special national circumstances.
This is more so when the average Indian lives
only on a third of the per capita consumption of energy that the United Nations
believes is necessary for human well-being.
Talking about India’s growing energy needs, the
Petroleum Minister said India has a huge appetite for energy, and will be a
driver of global energy demand in coming decades.
Pradhan emphasised on both ease of doing business
as well as on ease of living. He said that country’s economic growth will be
driven by heavy investment in infrastructure, digital economy and job creation
in small and medium firms.
Talking about reform measures, the Minister said,
Government has undertaken several structural reforms in the last 5 years to
create business-friendly environment.
These reforms include insolvency and bankruptcy
code, tax reforms and intellectual property reforms. Hydrocarbon sector has
also been overhauled through series of business-friendly policy measures.
Reiterating his Government’s commitment towards
building a gas based economy, Minister Sh. Dharmendra Pradhan further added
that Government is making all efforts to move towards a gas-based economy.