With Gujarat’s success story preceding Narendra Modi’s role as the new prime minister, an optimistic outlook is being shared by India’s energy sector to bring about a similar transformation in country too. In a recent article in the Times of India, leading energy and natural resources firms in the country gauged their expectations from the new government.

Companies in the energy sector are looking at the new government to create policies that will allow exploration, production and utilization of India’s energy and natural resources in an environment-friendly and sustainable manner, along with reducing the current $500 billion annual cost of importing natural resources.

Ratul Puri, Chairman, Hindustan Powerprojects, believes that the Bhartiya Janta Party (BJP) has shown a strong commitment to tackle all hurdles that have affected the growth of the power sector so far, including creating multiple new cities with amenities, and for generating more energy while conserving and using it in a judicious manner. According to Puri, focusing on these parameters will ensure a step in the right direction for the power sector.

In the article, Mr. Puri said that National Energy Policy must provide a road map for achieving all key objectives such as maximizing oil, gas, hydro, solar, wind, nuclear, and other resources, promoting production and export of domestic coal and oil to reduce the import bill, avoiding the overdependence on single fuel and diversifying suppliers, and providing a thrust towards renewable sectors like solar and wind. He also added that the policy must develop indigenous capabilities to meet the emerging needs.

Source : Times Of India