India will lead global energy transition: Dharmendra Pradhan

The India Ministerial Dialogue was held at 3^rd India Energy Forum by CERA week in which hon’ble Minister of Petroleum and Natural Gas and Steel, Dharmendra Pradhan, hon’ble Minister of Railways and Commerce & Industry, Piyush Goyal, hon’ble Minister of Coal Mines and Parliamentary Affairs, Pralhad Joshi, and hon’ble Minister of State (I/C) of Power and New & Renewable Energy R.K. Singh participated.

In his welcome address, Minister of Petroleum &Natural Gas & Steel, Dharmendra Pradhan said “Presence of ministers at the Forum is a testimony to the high importance that the Government accords to the India’s energy sector in a dynamic global energy landscape. Hon’ble Prime Minister has given us a target to transform the Indian economy to a 5 trillion dollar in the next five years. We are making concerted efforts and taking all necessary steps to make this a reality. Energy sector will be fuelling India’s journey towards this stated goal of a 5 trillion dollar economy. ”

Piyush Goyal said, “We are on cusp of Energy revolution -energy has become an essential commodity in our bilateral trade engagements with several key trading partners, we are improving domestic coal production, reducing import dependency, and Gas is playing an important role in energy basket. Hon’ble Prime Minister Modi has shown the world, the path to climate justice and a sustainable future. Modern technologies, efficiency in production are transforming the landscape. Pradhan has been on the right track in taking forward India on the path to becoming a gas based economy.”

R.K. Singh said, “We are preparing for a low- carbon energy future as our Government has aimed to set up a 450GW of renewable energy capacity by 2030. The Government has succeeded in providing electricity to almost all the households in the country. The energy consumption is increasing and so is power production. The national power grid has become a reality. Natural Gas offers an option of a balancing fuel, as it has proven capability to compliment renewable. India is an attractive destination for global investors. Power sector has seen tremendous change in the last five years. We have travelled from being a power deficit nation to a power surplus nation. We have made a quantum leap in our renewable energy capacity. We are one of the fastest growing producers and consumers of renewable energy. We have laid down stringent emission standards for our power plants. In the last five years we have carried out unparalleled and fastest and largest increase in access to energy the world has witnessed. Speaking about investment potential India holds, if you are in energy, you must be in India.”