Coal News We love to talk!

JUL 31 2017

Technology needs to be sustainable, accessible, affordable: Dharmendra Pradhan

  • Economic Times, ET Bureau / Hyderabad
  • Created: Mon 31st JUL 2017

 

Union Minister of Petroleum Dharmendra Pradhan stressed on the need to scale up technology in India, adding that it should encompass three main features- sustainability, affordability and accessibility.

"Technology must use components of sustainability, affordability, and accessibility, and should be eco-friendly. These must be scaled up in India," he said, while speaking to media on the sidelines of the sixth Petrochemical Conclave here.

Highlighting the recent surge in the spending capacity of India's middle class, Pradhan revealed that for the first time, India's per-capita income reached Rs. 1, 00, 000, as per a report commissioned by the National Statistics Department (NSD).

Owing to this, Pradhan noted that there will be a rise in the demand for petrochemical products in the country.

"Per-capita petrochemical consumption is currently 10kg. With the current refining capacity, production and demand of petroleum and petrochemical products need to be satisfied. We are expecting multi-fold growth by 2030. For this, Make in India, Skill India mission and Swacch Bharat movement are important," he said.

"India's refining capacity is now 230 million metric tonnes. Domestic consumption is around 190-200 million metric tonnes. Therefore, the rest of it is exported to Sri Lanka, Latin America and so on. Our aim is to make India a refinery hub in the near future," said Pradhan.

Tags

Refinery Petroleum Petrochemical India

Related News

  • India Petronet struggles with constrained Kochi plant  Read more
  • Singapore's Netoil starts due diligence to acquire Nagarjuna Oil refinery  Read more
  • Coal India has created more green cover than it has destroyed  Read more
  • Indian power exchanges expect volume to grow due to SAARC energy co-operation deal  Read more
  • Cairn Energy to assess impairments relating to India in August  Read more
  • BPCL Director-Finance resigns on health grounds  Read more
  • Govt open to hiring Coal India chief from private sector: Piyush Goyal  Read more
  • India, Russia sign 3 contracts on Kudankulam  Read more
  • Coal linkage delayed for MCL's Rs 11,000 crore power plant  Read more
  • ISRO unveils Solar Calculator app: Heres what it means for installing solar panels at your home and office  Read more