Invites global investors to participate in country’s growth story. The Indian economy was growing at the rate of more than 7.5 per cent and the country would soon become the world’s third-largest economy, he added.
New Delhi: Prime Minister Narendra Modi on Tuesday said India will see an investment of USD 67 billion in the energy sector in next five to six yeara special report by Shubhadeep Choudhury in the Tribune, Chandigarh, says.
Inaugurating the second edition of the India Energy Week in Goa, the Priime Minister invited global investors to participate in India’s growth story.
The Indian economy was growing at the rate of more than 7.5 per cent and the country would soon become the world’s third-largest economy, he added.
The Prime Minister said the country was expected to increase its refining capacity from 254 MMTPA (million metric tonne per annum) to 450 MMTPA by 2030.
“In next five-six years, an investment of USD 67 billion is going to be made in the energy sector in India,” said Modi.
He stressed that money would be invested in the energy sector like it was never done before in the country and added that the country’s primary energy demand would double by 2045.
India, he said, was the third-largest consumer of crude oil and LPG and the fourth-largest importer of LNG. Petrol and diesel prices reduced in India in last two years, he said, recounting the country’s energy management strategy in the face of global problems. He said all experts were of the opinion that India was the fastest growing major economy.
“Government reforms are helping boost domestic natural gas production and India is targeting to raise the share of gas in its energy mix to 15 per cent by 2030,” he said.
About the blending of ethanol in petrol, he noted that it had increased from 1.5 per cent to 12 per cent in last 10 years. Ethanol blending in petrol would reach 20 per cent by 2025, he said.
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