‘Energy is the key driver of Socio-Economic growth’: PM Narendra Modi

Last Updated: Monday, February 11, 2019, 04:33
‘Energy is the key driver of Socio-Economic growth’: PM Narendra Modi
The 13th edition of PETROTECH - 2019, India’s flagship hydrocarbon Conference was inaugurated by the Prime Minister Narendra modi at India Expo Centre, Greater Noida in Uttar Pradesh today. In his inaugural address PM underlined the importance of energy as a key driver of socio-economic growth. “Suitably priced, stable and sustainable energy supply, is essential for rapid growth of the economy. It also helps the poor and deprived sections of society, to partake of economic benefits,” he added.

Stating that the there is a shift in energy consumption from West to East, PM said that United States has become the world’s largest oil and gas producer after the shale revolution. However there are signs of convergence, between cheaper renewable energy, technologies, and digital applications which may expedite the achievement of many sustainable development goals.

PM told that it is the need of the hour “ ...move to responsible pricing, which balances the interests of both the producer and consumer. We also need to move towards transparent and flexible markets for both oil and gas. Only then can we serve the energy needs of humanity in an optimal manner.” Reminding the global community to join hands in tackling the challenge of climate change, he said targets we set for ourselves at COP-21 in Paris can be achieved. In this context, he mentioned that India has made rapid strides in meeting its commitments.
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