New Delhi – At the Odisha Investor Meet held at Taj Place, New Delhi, Minister for Petroleum and Natural Gas, Hardeep Puri, delivered an engaging address underscoring the critical role of economic returns in drawing investor attention. He emphasized that investors are attracted only to gatherings where clear financial prospects are evident.
Rising Energy Consumption:
The minister highlighted that before his tenure, the country’s daily crude oil consumption stood at 5 million barrels. In just over three years, this figure climbed to 5.5 million barrels—a trend that indicates a promising upward trajectory in India’s energy demand. Looking ahead, he confidently projected that the country could soon see daily consumption reaching six to 6.5 million barrels, and potentially even further.
Global Impact and Economic Growth:
According to a report by the International Energy Association (IEA), India is expected to account for 25% of the global increase in energy demand over the next two decades. This significant share is a strong indicator of India’s expanding role on the global energy stage and its consistent economic growth. The minister’s comments reinforce the idea that robust energy consumption is both a barometer of economic progress and a crucial driver for future advancements.
Long-Term Strategic Vision:
In addition to energy statistics, Minister Puri referenced the ambitious “U Initiative” launched by the Honorable Prime Minister. This strategy aims to position India as a leading global economy by 2047, targeting a leap from a $4 trillion GDP to as high as $7–10 trillion in the coming years. The minister noted that strategic planning in the ENP (Exploration, NeP, Production) sector is essential. He candidly mentioned the challenges of the lost decade from 2006 to 2016, where policy shortcomings and operational delays hindered progress in oil exploration and production—a gap that current efforts are now striving to close.
A New Chapter in Energy and Investment:
The event brought together investors and key industry leaders from various sectors, reinforcing the notion that collaborative efforts and sound policy reforms are paving the way for sustained economic and energy sector growth. Minister Puri’s address confirmed that with the right strategies and renewed focus, India is well poised to meet the rising energy demands of the future, further cementing its position as a major global economic player.
This updated perspective aims to provide corporate readers with a clear, concise overview of the discussions held at the meet and the promising outlook for India’s energy and economic future.
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