Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has said that India is on the path to becoming a 10 trillion-dollar economy in 2030 and the third largest economy in the world by 2047.
Puri addressed the 25th Energy Technology Meet wherein he said that despite the unique challenges posed by the current global setting, India is wedded to the concept of net zero and is committed to making a transition from the world of hydrocarbons to a world where green and sustainable energy will be determining our energy needs.
The union cabinet minister also highlighted India's progress in ensuring energy security for its citizens and outlined the Government's plans to make the country's energy mix more sustainable and environmentally friendly. In 2019, Prime Minister Narendra Modi envisioned making India a $5 trillion economy and global powerhouse by 2024-25.
'In the wake of global crises, India has fared extremely well on three fronts - energy, food, and fuel. The country was able to navigate out of the crises brought by global headwinds with a degree of confidence, assuring energy availability and affordability. The country's per capita energy consumption is one-third of the global average now and will surpass it in the years to come. India is on becoming to become a 10 trillion-dollar economy in 2030 and the third largest economy in the world by 2047 and therefore there is a growing need to change the energy mix," he said.
Highlighting the progress in the Energy sector, Puri said modernization and digitization have become an imperative rather than a choice.
"By May 2022, India already attained 10% biofuel blending and is on course to reach the 20% mark in a year or two. The Government's attitude has always been positive and supportive and assured that whenever attention is drawn to any area where there is scope for a more supportive environment, interventions required to produce the same will be made," he further said.
Union Minister of State for Petroleum and Natural Gas, Rameswar Teli also addressed the delegates and informed them of the Indian Government's resolve to raise the share of Natural Gas in the country's energy mix to 15% by 2030 from its current share of just above 6%.
"The Government under the leadership of Prime Minister Narendra Modi has decided that 18 thousand Compressed Natural Gas (CNG) stations would be set up in the country by 2030," he added.
