New Delhi: Minister of Petroleum & Gas and Steel, Dharmendra Pradhan, participated in the 92nd Annual Session of FICCI in New Delhi on 20 December. Providing a ‘3-I mantra’ for India’s growth, Pradhan said that Intellect, Imagination and Innovation will drive India towards a $5 trillion economy. Wealth creators of the country will have to play an important role in this transition, he added.
Speaking about the Government’s efforts to improve the business climate in the country, Pradhan said, “We believe in the principle of Minimum Government, Maximum Governance. Improving Ease of Doing Business is one of our key priorities. Reforms measures undertaken by the Government have shown tremendous results.”
About transformation in rural India, the Minister said, “Rural India is undergoing transformation. PM KISAN Yojana is working towards increasing purchasing capacity in rural India. Our Government is working to ensure housing for all, piped water supply to every household, and electricity to every household.”
Speaking about India’s energy landscape, he said, “We are on our way to becoming the world’s largest energy consumer. We will use a combination of conventional fuel and other more sustainable options to create a balanced energy mix. We will also explore other new and sustainable sources of energy like Hydrogen. Technology and innovation will play an important role in this.”
Pradhan also said India is moving towards a gas based economy and investments of about $100 billion are underway in India’s energy infrastructure, including renewables. About bio energy, he said, “India has 600 million MT of biomass. On one hand we are ensuring the highest standards of sustainability through BS-VI, and on the other hand, we have made a roadmap to convert this bio to energy. 5,000 plants are going to be set up for this. Oil and Gas PSUs are giving uptake guarantee and price stability. This will also be an answer to the problem of environment pollution.”
Regarding the steel sector, Pradhan said, “India is the 2nd largest steel producer in the world. Ensuring raw material security, affordability, and import diversification are some of our key priorities. We are targeting to become net exporter of steel. Recently, we launched Steel Import Monitoring System which will contribute towards this goal.”
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