‘The government is making efforts to double the country’s oil refining capacity within the next five years,’ Modi said.
Prime Minister Narendra Modi on Saturday said that India has set a target of reducing its carbon footprint by 30 to 35 per cent. He made the statement while addressing the convocation ceremony of Pandit Deendayal Petroleum University (PDPU) through video conference.
"Today, our country is moving ahead with the target of reducing carbon footprint by 30 to 35 per cent. When I told this to the world, everyone expressed surprise and wondered if India can achieve it," he said adding that the government is making an effort to increase the use of natural gas.
"Efforts are on to increase the use of natural gas by four times during this decade, and work is also on to nearly double the country’s oil refining capacity within the next five years," PM Modi said.
Modi further said that the government was also making efforts to strengthen start-ups in the energy sector and announced that a special fund has been allocated for the purpose. "If you have any idea, product or a concept that you want to incubate, then this fund will be a good opportunity for you, and a gift from the government," he said while addressing the students.
"In the oil and gas sector alone, crores of rupees will be invested during this decade, so you have a lot of opportunities in the field," he added.