The Union Minister for Petroleum and Natural Gas & Steel, Dharmendra Debendra Pradhan urged captains of the oil & gas industry to encourage and support innovations by young professionals on late Monday evening.
Addressing the Federation of Indian Petroleum Industry (FIPI) annual summit and awards ceremony in New Delhi Pradhan said, “Technology and innovation are the order of the day. I am of the firm belief that youngsters can drive innovation. The industry must work on creating a framework to support young employees on driving innovation and creating new business models.”
Pradhan added that India was a large market an aspirational population would become the epicentre of global growth.
Speaking about Government’s reforms efforts, the minister said, “The government is working on the paradigm of continuous reform. The recent reduction in corporate tax, India’s huge jump in World Bank’s Ease of Doing Business rankings are cases in point.”
Speaking about India’s energy demand, Shri Pradhan said, “Indian appetite for energy is growing. I appeal to the industry to work on innovative energy delivery in a sustainable way.”
Speaking about energy for social change, he said, “Energy sector has the potential to improve the lives of people. We must work on making energy more affordable and accessible. The energy sector must act as a catalyst for social change.”
Speaking about the role of technology, Shri Pradhan said, “We must leverage technology to create new models of business and governance. In the form of Direct Benefits Transfer, we have created the largest model in the world in digital governance.”
The Federation of Indian Petroleum Industry (FIPI) is an apex Society of entities in the hydrocarbon sector and acts as an industry interface with government and regulatory authorities. The event saw participation from oil & gas industry leaders and senior officials of the Ministry of Petroleum and Natural Gas.