New Delhi: Union Minister for Petroleum & Natural Gas and Steel, Dharmendra Pradhan, addressed the FIPI (Federation of Indian Petroleum Industry) annual summit and awards ceremony in New Delhi. Speaking about innovation, Pradhan said, “Technology and innovation are the order of the day. I am of the firm belief that youngsters can drive innovation. The industry must work on creating a framework to support young employees on driving innovation and creating new business models.”
Pradhan complemented FIPI for completing three years and congratulated the award winners. He said India is an aspirational society and, with a large market and aspirational population, India is going to be the epicentre of global growth.
Speaking about the Government’s reform efforts, Pradhan said, “Government is working on the paradigm of continuous reform. The recent reduction in Corporate Tax, India’s huge jump in World Bank’s Ease of Doing Business rankings are cases in point.”
Speaking about India’s energy demand, Pradhan said, “The Indian appetite for energy is growing. I appeal to the industry to work on innovative energy delivery in a sustainable way.”
Speaking about energy for social change, he said, “The energy sector has the potential to improve the lives of people. We must work on making energy more affordable and accessible. The energy sector must act as a catalyst of social change.”
Speaking about the role of technology, the Minister said, “We must leverage technology to create new models of business and governance. In the form of Direct Benefits Transfer, we have created the largest model in the world in digital governance.”
The Federation of Indian Petroleum Industry (FIPI) is an apex Society of entities in the hydrocarbon sector and acts as an industry interface with Government and regulatory authorities. The event saw participation from oil and gas industry leaders and senior officials of the Ministry of Petroleum and Natural Gas.