India Open to $300 Billion Oil & Gas Investments

India will offer global investors $300 billion worth of investment opportunities in the hydrocarbon sector over the next decade to keep pace with the country’s energy demand, India’s Minister for Oil Dharmendra Pradhan said.

Speaking in New Delhi at the India Energy Forum, organized by CERAWeek the Houston-based information and insights company IHS Markit, Pradhan said that India’s oil and gas output has been stagnant for years while its fuel demand has risen. Modi’s government is taking steps to unlock the country’s vast energy reserves and boost foreign investment in the sector; it has relaxed rules, including those on pricing and marketing, he added.

Natural Gas, Oil Rig

India, which imports over 80 percent of its oil needs, wants to reduce this figure by 10 percent by 2022, reports Live Mint. The country wants to attract foreign investors to $300 billion worth of energy projects that will include increasing the country’s refining capacity, oil and gas block exploration, and developing gas infrastructure, including the transport of liquefied natural gas and re-gasification.

Be Sociable, Share!
Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

0 comments

There are no comments yet...

Kick things off by filling out the form below.

Leave a Comment

*