US$100 bn energy investment in India by ’24

Addressing KPMG’s Enrich 2019 conference, Petroleum Minister, Shri Dharmendra Pradhan, opined “India will see an investment of USD 100 billion by 2024 in oil refining, pipelines, city gas distribution networks, and LNG terminals.” The minister remained optimistic that India will chart its own course of energy transition in a responsible manner, even as it is said to be a key driver of global energy demand in the coming decades. He went on to say that “India wants to be the new destination for global energy players.”

He pointed out the various reforms undertaken by the government to create an investment friendly environment in the country – insolvency and bankruptcy code, tax reforms and intellectual property reforms.