PM Modi: “In this decade, in just the oil and gas sector, there will be millions of investments”

Wednesday 25th November 2020 08:55 EST
 
 

Prime Minister Narendra Modi while addressing the 8th convocation ceremony of Pandit Deendayal Petroleum University (PDPU) – Gandhinagar via video conference said efforts were on to double India’s oil refining capacity in the next five years and multiply the usage of natural gas by four folds in this decade. The country is also moving forward to reduce its carbon footprint by 30 to 35 per cent. About 2,600 students received their respective degrees / diplomas in this convocation.

During his address, Modi recalled his experience of battling “pre-conceived notions” as the former chief minister of Gujarat. He told the students how he had helped to separate feeders supplying electricity to domestic and agriculture consumers, and thus ensured round-the-clock and efficient power supply in the state.
“You (students) all know of today’s fashion to create a ruckus and find fault in small matters. I used to face a lot of problems then (as Gujarat CM). The issue came before me about power producers selling at (thermal power) Rs 2-3 per unit and (solar power) Rs 12-13 per unit. I was confronted with a moment where I had to worry about my reputation or worry about my future generations. I knew that this type of decision will be blown up by the media and will invite charges of corruption. But I had a clean heart. I genuinely believed that we had to do something to change our lifestyles. Finally, we decided to go for solar energy. And we made this decision with honesty, did it for a bright future with a vision. Solar plants began in Gujarat and in large numbers,” Modi said.
PM added, the solar energy has now become “a movement in the country” and the cost of solar power has “dropped below Rs 2 per unit”. “Keeping in mind our energy needs, it is our endeavour to increase the proportion of natural gas by four times in this decade alone. In the next five years, efforts are being made to double the country’s oil refining capacity,” Modi said.
Modi told the graduating students that they were entering the energy sector at an “opportune time”.
“Today, there are unlimited opportunities in the energy sector in India. You (students) all have reached this sector at the right time. In this decade, in just the oil and gas sector, there will be crores of investment. There are ample opportunities, from research to manufacturing,” the PM said.
During his virtual address, the PM also insisted students to focus more on “Atmanirbhar Bharat”. “Today’s India is passing through a big phase of transition. Think about what a golden period you are in,” he said.


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