India will soon be the world’s largest energy consumer: Dharmendra Pradhan

• India has been consistent in its commitment to sustainability, said Pradhan

• The world is looking for cheaper, cleaner energy. The aim is to make energy available at a cost as low as possible, probably Rs 0, said Petroleum Secretary

New Delhi: Minister for Petroleum and Natural Gas Dharmendra Pradhan said that India is the third largest consumer of fuel in the world but will soon reach the top as the world's largest consumer as the per capita consumption in the country is on the rise. Speaking at the International Symposium on Fuels and Lubricants (ISFL 2021) on Tuesday, Pradhan said that the energy requirement of the future will be met through cleaner, greener and sustainable sources, and for this, continuous R&D efforts are needed. "The world is talking about sustainability and is looking for sustainable leadership. There may have been changes in priorities for others, but India has been consistent in its commitment to sustainability. We have laid down sustainable pathways in our strategy to make energy cleaner, greener, more sustainable," said the minister.

Pradhan said that energy is the catalyst of socio-economic change. He added that investments of billions of dollars in the oil and gas sector will bring in more job opportunities, leading to trickle-down effect to drive socio-economic growth. The sector will play an important role in double digit growth trajectory of the Indian economy, he added.

Govt policies support growth of sustainable energy: Pradhan

Talking about the policy reforms in this direction, he said that the government has provided support to the growth of sustainable energy through schemes like Ujjwala Yojana, ethanol blending, compressed bio gas, bio-diesel, development of Syn gas from coal, and promoting LNG as a priority transport fuel. On policy side, concrete investment plan, clarity about future targets and robust implementation strategy are bringing in a new paradigm. He said that our industry is ready to meet not only the availability of energy but also quality energy.

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Pradhan said that we are embracing new heights in the energy vertical of economic development. On the occasion, Pradhan also released a logo for the golden jubilee of Indian Oil's R&D centre as a souvenir to mark the occasion.

Petroleum Secy calls for R&D to reduce net emission from fossil fuels

While commending the work of the R&D wing of Indian Oil, which has launched several products commercially, Petroleum Secretary Tarun Kapoor called for enhancing the R&D and innovation efforts so that net emission from fossil fuels are reduced. He also stressed on increasing the fuel efficiency which will lead to reduced consumption and import dependence. "The world is looking for cheaper, cleaner energy. The aim is to make energy available at a cost as low as possible, probably Rs 0," said Kapoor,

The backdrop

The three-day 12th International Symposium on Fuels and Lubricants (ISFL-2021) began on March 15 and will go on till March 17 on hybrid platform by Indian Oil R&D Centre, in association with the Society of Automotive Engineers of India (SAEINDIA). The theme of the symposium is "Emerging trends in Fuels and Lubricants – BS VI & Beyond." ISFL series of symposia is a biennially held programme that showcases progress and advancement of Indian fuels and lubricants industry.

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