PM Narendra Modi, while addressing the inaugural session of IEF 2018 in Delhi said that Indian citizens deserve Clean, Affordable, sustainable and Equitable source of energy and we are committed towards it. “For this we now need to responsible pricing and a Flexible market dynamics. There should be mutually supportive relationship between producers and consumers. I call every one of you towards this goal. Let us make use of this platform of IEF for Responsible pricing. India also needs energy security- Energy which is Accessible, Efficient, sustainable and affordable to everyone. We are committed towards providing energy that is Accessible and affordable to poor and are also committed towards Curbing emission in accordance with Climate Change Agreement,” he said.
PM said India today is the fastest growing large economy of the world and will grow @ 7-8%. With such Macro economic stability, we are also blessed with demographic dividends as large number of youth that are skilled in various fields will push energy consumption further. “Considering that there is a huge scope in Indian Energy space. We have conceived a beneficial Revenue sharing policy HELP. Its Bidding round is open till May 2. I invite you to participate in that bidding process,” he added.
Other highlights of PM address are:
- Consumptions trend has shifted to now OECD, Africa and Asian Countries, thereby Changing the supply paradigm.
- Availability of Gas has changed in the world and US will soon become the largest producer of Oil and Gas.
- Coal may soon go out of favour in developing country too.
- World is committed to agenda of Climate change and COP21 Paris Agreement
- According to One report India will be the key driver of Energy during next 25 years.
- Indian Energy demand, specially Gas, will increase at a rate or 4.2% a years for next 25 years.
- Automobile numbers in India will increase from 3 million to 320 million by 2040
- We have also launched Enhanced Oil recovery process and Market driven pricing model. We have also moved towards Digital payment and daily pricing of petro product. So our energy policies are Inclusive and Climate sensitive in accordance with the Sustainable Development agenda of UN.
- Due to our energy security policies Air Quality has improved in a great deal thereby benefitting women in an enormous manner
- Our Aim is to give 80 Million poor household free LPG connections and already 3.5 million LPG connections have been given to them.
- We have proposed to implement BSVI Fuel standard by April 2020 and already it has been started in Delhi. This is an Ambitious target.
- We have also launched Old Vehicle scrapping policy to phase out old polluting vehicle.
- Indian Companies are also adopting new technologies both in Downstream and upstream segment.
- Considering that India is a Perfect setting for this event.
- Theme of IEF 1018 is Future of energy security, I hope this forum will Benefit all the people of the world to have Clean, Affordable and Sustainable source of energy
