India aims to convert energy challenges into opportunities: Minister – Investing NewsEverything

New Delhi, Nov 3 (IANS) Petroleum Minister Hardeep Puri on Thursday said that as India is facing certain challenges, the Central government’s attempt is to convert these challenges into opportunities.

“India today is clearly an India in transition,” he said while addressing the India Chem 2022, organised by industry body FICCI and Ministry of Chemicals and Fertilisers.

Puri while speaking on the high global energy prices, stated that “we have been able to navigate global prices. Clearly when prices are high, the situation will be inflationary”.

The minister further stated: “We are taking corrective measures including the new pipeline and other innovative steps like introduction of solar cooker, which in the coming months will make a major impact in lowering the demand for domestic kitchen energy because it will feed on the natural sunlight.”

He highlighted that Indian economy is growing at a rate of 7 per cent, and energy is a critical driver of growth.

“Our refining capacity, which currently stands at about 252 million metric per annum and is likely to go up to about 400 million metric tonnes per annum in the coming years. We are also transiting from the fossil fuel based energy to a greener energy including solar, wind and compressed biogas,” he added.

–IANS

ans/pgh