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The Silicon Review Asia

India aims to make a strong pitch to global oil and gas companies to invest in the energy sector

India aims to make a strong pitch to global oil and gas companies to invest in the energy sector

India's oil and natural gas sector is likely to receive a fresh investment of over $300 billion by 2030 for developing natural supply and distribution infrastructure to meet rising demand. The government aims to more than double the share of natural gas in its energy base to 15 percent by 2030. India will make a strong pitch to global oil and gas companies to invest in the energy sector to realize the Atma Nirbhar Bharat mission's full potential.

"The annual interaction has gradually become one of the most important gatherings of not only intellectual debate but also of executive action. The event also grows in stature with the rise of India, the world's third-largest energy consumer, which is likely to see over $300 billion investment by 2030 in the oil and gas sector to meet rising demand," according to a statement issued by the Prime Minister's Office (PMO).

India is an important player in the global oil and gas sector, the third-largest consumer of crude oil, and the fourth-largest LNG importer. Realizing India's need to graduate from a passive consumer to an active and vocal stakeholder in the global oil and gas value chain, NITI Aayog had initiated the first roundtable of global oil and gas CEOs with the Prime Minister of India in 2016.

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