New Delhi, October 10: India will remain one of the fastest growing energy markets in the World in the coming two decades said the Petroleum Minister Dharmendra Pradhan in the India Energy Forum while addressing the CERAWeek in New Delhi on Monday. Access to increase in accounts and better lifestyle, the per capita energy consumption will grow.
The minister said that in the global energy market India will be an influential buyer. Given India’s dependence on imports (80% oil and 50% gas), India has to constantly track the global trends and learn from experts, he added.
Pradhan said that understanding of geopolitics is an important aspect. The situations of Syria and ISIS, Kurdistan referendum, Saudi-Qatar situation, the Political situation in Venezuela have an impact on oil prices and our economy, our fiscal deficit and our consumers.
He further added that to overhaul the licensing regime in upstream segment Indian government has taken several policy measures with HELP policy. During the course of next two days, much deliberation will take place on the trends in the oil markets he said.
CERAWeek is the premier annual international gathering of energy industry leaders, experts, government officials and policymakers, as well as top executives from the technology and financial sectors.