Prime Minister Narendra Modi on Monday said that sustainable, reasonable priced energy is crucial for development.
While addressing a gathering at Petrotech Exhibition, the prime minister said, "While global economy goes through uncertainty, India has shown tremendous resilience. FDI is also at the highest level."
"Energy in general and hydrocarbons in particular are an important part of my vision for India's future. Hydrocarbons will continue to play an important part in India's growth," he added.
"We are aiming to provide piped natural gas connection to 10 million households, double pipeline network to 30,000 km in 5 years," Modi said while adding, "Energy sustainability, for me, is a sacred duty. It is something India does out of commitment, not out of compulsion."
"We need to increase our domestic oil and gas production and reduce import dependence. Our current account deficit has improved steadily, we willprovide electricity to all by March 2018," he said.
Petrotech Exhibition - one of the biggest oil and gas exhibitions - and this year theme of the conference is "Hydrocarbons to fuel the future – Choices & Challenges".
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
