Context: Recently, Union Minister of Petroleum and Natural Gas & Steel interacted with Stanford Alumni Group on “The Future of Energy in India.”
Why is India an attractive investment destination?

• India is currently using only 6% of the world’s primary energy while the per capita consumption of energy is still one-third of the global average.
• World’s total primary energy demand would increase at less than 1% per annum till 2040. whereas, India’s energy demand would increase at 3% per annum till 2040.
• Estimated oil demand would plateau around 2030 while for India it would happen in 2035.
• Natural gas would increase its share in the world energy mix which would be supported by India and other Asian countries.
• India has enhanced ease of doing business.

Government initiatives to increase share of clean energy

• Set the target of achieving the renewables 450 GW by 2030.
• India has increased the renewable power from 32 GW to 100 GW.
• Reduce Green House Gas emissions by 43 million tonnes annually by LED bulb distribution and LED Street Lighting National Programme.
• Through ‘one – nation-one – gas-grid’ approximately 17,000 kms of gas pipelines in the eastern and north-eastern parts of the country.
• With the implementation of “City Gas Distribution” networks more than 70% of India’s population will have access to clean and affordable natural gas.
• Implemented BS–VI norms since April 2020.
• Waste-to-wealth generation under the Sustainable Alternative Towards Affordable Transportation (SATAT) initiatives.
• India is setting up of 5000 compressed biogas (CBG) plants by 2024 with a production target of 15 MMT and an investment of about 20 billion dollars.
• LPG coverage increased from 55% in 2014 to now more than 98% in 2020 through Pradhan Mantri Ujjwala Yojana.
• Completely filled all the Strategic Petroleum Reserves with a total capacity of 5.33 MMT constructed at Visakhapatnam, Mangalore and Padur.
• Increased penetration of EV; CNG & LNG-based vehicles in passenger and freight transport. 
• Initiated the process of establishing another 6.5 MMT commercial-cum-strategic petroleum storage facilities at two locations at Chandikol and Padur.
• Major Indian energy companies – like their Western counter parts – have announced NET ZERO policy.