Pushing Indian energy companies to become multinationals, Prime Minister Narendra Modi today outlined a vision for creating energy corridors to the Middle-East, Central Asia and South Asia, saying stable and reasonably-priced energy is key to economic development.
The world’s third-largest energy consumer needs to raise domestic oil and gas production to cut imports as also establish partnership with regional energy powerhouses, he said while addressing the inaugural session of Petrotech conference here. “Energy is a key driver of economic growth. Sustainable, stable and reasonably priced energy is essential for the fruits of economic development to reach the bottom of the pyramid,” he said. “On one hand, to meet the increasing demand, we need affordable and reliable sources of energy. On the other, we must be sensitive towards the environment.”