Prime Minister Narendra Modi said on Monday that people must have universal access to clean, affordable, sustainable and equitable supply of energy in a fast-growing economy like India.
“Several decades of public life have convinced me that energy is a key driver of socio-economic growth,” he said while addressing the inaugural session of Petrotech 2019.
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“At the macro level, the energy sector is a pivot and a key enabler of growth. Natural gas is fast becoming one of the largest fuels in global energy mix. Nations are coming together to tackle climate change. We are entering an era of greater energy availability,” he said.
The prime minister said India has the potential to emerge as the world’s second largest economy by 2030. “We are the third largest energy consumer in the world with demand growing at more than 5 per cent annually. India remains an attractive market for energy companies with energy demand expected to be more than double by 2040.”
Suitably priced, stable and sustainable energy is essential for rapid growth of the economy, he said. In an uncertain global economic environment, India has shown tremendous reasons as an anchor of the world economy, said Modi.
Prime Minister Narendra Modi said that patterns of energy supply and consumption are changing globally and countries are coming together to tackle climate change.
There are signs of convergence between cheaper renewable energy, technologies and digital applications, he said while addressing the inaugural session of 13th international oil and gas conference Petrotech 2019.
“At the macro level, the energy sector is a pivot and a key enabler of growth. Natural gas is fast becoming one of the largest fuels in global energy mix. We are entering an era of greater energy availability,” he said.
“Energy supply, energy sources, and energy consumption patterns are changing. Perhaps, this could be a historic transition,” said the Prime Minister. “This may expedite the achievement of Sustainable Development Goals (SDGs). Nations are coming together to tackle climate change.”
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