Kapoor gave the example of gas meters and said there was currently not enough capacity in the country to manufacture them
Twesh Mishra |
Last Updated at January 11, 2021 23:47 IST
There is a need to increase localisation of products that are being used in the oil and gas sector, Petroleum Secretary Tarun Kapoor said.
“We are looking at a large number of products that are being imported. We want them to be made in India. We have asked Engineers India to work on vendor development. The government sector alone in the oil industry has a capital expenditure of over ~1 trillion a year, there is operating expenditure also. And the private sector is spending too. In all, around ~1.5 trillion to ~2 trillion is spent by this sector annually,” Kapoor said, addressing the Energy Startup Summit 2021 organised by Tata Motors and Repos Energy on Monday.
Kapoor gave the example of gas meters and said there was currently not enough capacity in the country to manufacture them.
Speaking earlier at the event, NITI Aayog Chief Executive Amitabh Kant said: “There is focus on new technologies like solid state batteries and direct solar wafers which are the future. The world is on the cusp of a mobility revolution, which is going to be shared, connected and zero emission.”
Kant said rapid technological evolution was driving the transportation revolution in the world.”
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Mon, January 11 2021. 23:47 IST