With the US and other western powers easing sanctions against Iran, India has been in talks with Tehran to set up a gas-based urea manufacturing plant at the Chabahar port, besides developing a gas discovery ONGC had made.
The Modi government's Make in India policy will take manufacturing to new heights and there will be a huge requirement of energy, Pradhan said, adding that as per the estimates in the next 15 years there will be huge demand for petroleum products.
Reliance Industries has posted a 19 percent year-on-year rise in June quarter profit to Rs 5352 crore. Sales have however declined to Rs 87645 crore, down 4.5 percent YoY.