Gold Silver Reports – Indian PM Modi discussions with global oil and gas experts to see how India can improve its prospects in the sector. Modi stressed on his vision for a fresh look at the sector, to bring in investment, technological upgradation, and development of human resource.
The discussions focused on subjects such as increasing the share of gas in India’s energy mix, fresh investment in oil and gas exploration in India, regulatory frameworks, international acquisition of oil and gas assets, emerging areas such as shale gas and coal-bed methane, and the oil and gas sector related possibilities of “Make in India.”
The International Energy Agency(IEA) recently said India is set to contribute more than any other country to the rise in global energy demand over the next 25 years. According to IEA, India needs more than Rs9 lakh crore ($140 billion) in energy investment per year to 2040, around INR 7 lakh crore ($110 billion) per year in energy supply. – Neal Bhai Reports